The stock has given a good rally recently and moved past the 200 DMA and 34 WMA moving average to maintain a positive bias and has further potential to rise further in the coming days. The indicators are all favorable for further upward movement and with the RSI on the rise and with good consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 320 keeping a stop loss of 235.
CMP: Rs 172.50
TARGET: Rs 190
STOP LOSS: Rs 162
The stock has given a consolidation phase at around 155 levels for quite some time forming a good strong base and has made a decent revival to reach 168 levels where it consolidated again and currently has given a positive bullish candle pattern to signify further strength and has got potential to rise further in the coming days to scale till 185 – 190 levels. The volume participation has been decent and we recommend a buy in this stock for an upside target of 190 keeping a stop loss of 162.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.