hal share price: HAL shares nosedive 28% from peak. Will it fall below Rs 4,000?
Shares of Hindustan Aeronautics (HAL) have been making lower tops and lower bottoms on its daily chart, having taken a fall after hitting an all-time high of Rs 5,674.75 in July this year.
Since then, the stock has corrected by almost 28% since then and by 8.15% in the last one month.
On the stock’s daily chart, the shares price recently encountered a resistance near the Ichimoku cloud, which led to a correction of around 6-7% in just a week’s time. Additionally, the stock tried taking support at its 200 day exponential moving average (DEMA), but failed to do so in Wednesday’s session.
Now, the stock is below all its significant short, medium and long term EMAs.
“Currently, it is finding support in the 4000-4100 range, which aligns…
