Market Trading Guide: HAL, IREDA are among 5 stock recommendations for Thursday – Stock Ideas

Target Price: Rs 5,100/5,200

Stop Loss: Rs 4,200

HAL is trading at Rs 4,486 and has recently broken out from a falling wedge pattern on the daily chart, indicating the end of a prolonged consolidation phase. This breakout, accompanied by a noticeable surge in trading volume, suggests strong bullish momentum. A decisive close above Rs 4,480 could trigger short-term targets of ₹5,100 and ₹5,200. On the downside, immediate support is placed at Rs 4,350, offering a favorable buying opportunity on dips. To manage risk effectively, a stop-loss at Rs 4,200 is recommended to guard against potential market reversals.

(Mandar Bhojane, Equity Research Analyst, Choice Broking)