HBL Engineering Ltd – Daily Technical View
The stock is currently in a pullback phase within a broader range, after failing to sustain higher levels. Price action suggests short-term weakness, but structure is not fully broken yet.
🔍 Technical Observations:
Price is trading below the 20 EMA, indicating short-term pressure
Rejection seen near the upper Bollinger Band, followed by correction
RSI is hovering around the 45–50 zone, showing neutral to weak momentum
Volumes remain average — no panic selling yet
🔑 Key Levels:
Support: ₹820 – ₹800
Resistance: ₹900 – ₹930
Strength only above: ₹930 with volume
📈 Outlook:
As long as ₹800 holds, the stock may consolidate and attempt a base.
A decisive move above ₹930 can revive upside momentum.
Below ₹800, further downside cannot be ruled out.
⚠️ Educational view only. Not a buy/sell recommendation.
— AALGO BREATHS