HFCL Signals Bullish Trend: SEBI RA Anupam Bajpai Sees Upside To ₹92

HFCL has breached a key resistance level, signaling a potential breakout from a consolidation phase, said SEBI-registered analyst Anupam Bajpai.

After a period of sharp downtrend, HFCL’s stock entered a consolidation phase and gradually formed a rounding bottom pattern, Bajpai noted. During this period, HFCL stock moved sideways between the key support level of ₹79 and the resistance at ₹82.8.

The consolidation phase began around June 18, 2025, as the stock attempted to build a base.

Bajpai said that on June 24, 2025, HFCL demonstrated strength by closing above the critical resistance level of ₹82.8, signaling a potential breakout from the consolidation range.

Following this breakout, the stock gained further momentum by closing up 4.1% at ₹87.15 on Wednesday. 

At the time of writing, HFCL shares were up nearly 1% in early trade at ₹87.99 on Thursday.

With this positive price action, the analyst added that a further upside in the stock now appears likely. If the momentum sustains, the stock could move towards the ₹92 level soon. On the downside, the 100-day moving average is expected to be a crucial support.

Last month, the telecoms equipment manufacturer secured two new orders, including an export order worth ₹59 crore and a domestic order worth ₹1,702 crore from ITI Ltd.

Financially, the company is emerging from a weak quarter, having reported a loss of ₹83 crore in Q4 due to a drop in demand for optical fibre.

Year-to-date (YTD), the stock has fallen 22.4%.

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