Shares of HFCL rallied 3% to their day’s high of Rs 158 on the BSE on Tuesday, extending gains for a fifth consecutive session and gaining over 22% during the same period.
From a technical perspective, Ruchit Jain, Vice President of Technical Research at Motilal Oswal, said that the stock has seen renewed buying interest in the last couple of months. Prices have rallied with good volumes hinting at an uptrend. However, as prices have already rallied, traders with existing longs can hold and ride the trend. The 20 DEMA at Rs 138 is seen as the immediate support.
