PL Technical Research: Buy HBL POWER - Technical Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY HBL POWER CMP: 256 TRGT: 300 SL: 238 - TECHNICAL PICK - The stock after the decent rally has corrected to some extent to retrace 23.60% of the rise and has witnessed consolidation with improvement in the bias at current levels. The RSI has also flattened out after the slide and is well placed with much upside potential visible. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of 300 keeping a stop loss of 238.