The stock has taken support near the level of 770 to create a double bottom formation pattern in the daily chart and has gained momentum to improve bias. We are anticipating a fresh upward movement in the coming days as the RSI indicator is well placed, making the chart look good. Considering a stop loss of Rs 740, we suggest buying and accumulating this stock for a target of Rs 900.
The stock has gained momentum and the trend is maintaining a positive bias on the daily chart. The RSI indicator is also well placed and has recently changed the trend indicating strength and is likely to increase in the coming days. The chart looks good, considering the stop loss of Rs 182, we suggest buying and accumulating this stock for a target of Rs 220-225.
=============================== Disclaimer: The author is an analyst with Prabhudas Liladhar. It may hold a position in one or more of the shares mentioned above. Views are personal.
Business Standard has always worked hard to provide information and commentary on events that are of interest to you and have broad political and economic implications for the country and the world. Your encouragement and continued feedback on improving our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising from Kovid-19, we are committed to keeping you informed and updated with relevant news, official views and critical commentary on topical issues of relevance. However, we have a request.
As we fight the economic impact of the epidemic, we need your support even more, so that we continue to provide you with more quality content. Our subscription model has seen enthusiastic response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of offering you better and more relevant content. We believe in free, fair and reliable journalism. Your support through greater membership can help us practice the journalism to which we are committed.
Support quality journalism and Subscribe to Business Standard.