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The stock of HBL Power Systems, a small-cap company jumped 5 accompanied with spurt in volume by more than 3.9 times on Friday. This rally could be in anticipation of strong second quarter/half-yearly results to be announced on Monday.
Last week, the stock gained 8.6 per cent to close at ₹40.5. This rally has conclusively breached its immediate resistance around ₹38.5. Short-term trend is up for the stock. Strong Q2 results will boost the stock price performance. It has key resistances around ₹43 and ₹46.5. Immediate support is placed at ₹38.5. An emphatic slump below this level will bring back selling pressure and pull the stock down to ₹37 or even to ₹35 in the near future.
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