Stock of HZL is trading sideways since last two months forming rising wedge (rising bottom with same top) on daily chart. Stock is also facing resistance at its previous high it made on in the month of February last year. Stock has broken down from this rising wedge and now trading below 20 and 50 DMAs and just closed below 100 DMA on friday. Stock can be sold with the short term target of 125-120 downside.
Stop loss at 144 recommended.
CMP - 134
