HFCL share price hits 52-week high, up 31% YTD; is more steam left?

India county Coal UPS Target Research trends President show

20.02.2024 - 08:31

Reading now: 683

livemint.com:

₹107.80 apiece on BSE. HFCL stock price touched an intraday high of ₹113.25 apiece and a low of ₹107.40.

Also Read: Coal India share price down 4%: Should you Buy, Sell or Hold the stock? Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, highlighted that the HFCL share price is in a strong uptrend; however, during the initial part of the February month, we witnessed wild swings on both sides with low volume; however, the primary uptrend seems to have resumed with an increase in volume and prices breaching recent highs. HFCL stock price is already up 10% for the week and 31% for the calendar year, as bulls seem to be in cruise control.

In the near term, the stock prices can extend its up move towards ₹120. Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, advised that, technically, charts show a multiyear breakout showing a bullish trend.

Hence, traders can hold the counter with a stop loss below ₹104 and a target of ₹140–150 in the medium term. "Exciting news! Mint is now on WhatsApp Channels

. Read more on livemint.com

All news from livemint.com

About this in other media

Grasim share price scales 52-week highs propelled by paint segment launch; Should you Buy, Sell or Hold the stock? livemint.com /8 months ago

Jindal Steel & Power share price gains 3%: 2 key reasons why analysts expect 12-16% upside for the stock livemint.com /9 months ago

Union Bank of India share price jumps 7% on Rs 3000 crore QIP economictimes.indiatimes.com /9 months ago

The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.