Stop Loss: Rs 230
Target: Rs 260
Housing & Urban Development Corporation Ltd has broken out of an ascending triangle pattern on the daily chart, a bullish setup backed by strong volume, which indicates growing buying interest. The stock is currently hovering near its recent swing highs, with both the fast and slow EMAs moving upward, signaling steady positive momentum. The RSI is also on the rise, further supporting the strength of the ongoing uptrend. This combination of technical signals points to a strong bullish outlook, with the potential for more upside as long as the stock holds above the breakout level.
(Virat Jagad, Technical Research Analyst at Bonanza)
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