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

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20.02.2024 - 08:31

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₹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

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