The stock has been in a consolidation phase for quite some time at around 87 levels and currently is has indicated a bullish candle pattern in the daily chart and has signified strength and potential to rise further in the near future and with the RSI showing a steep rise with a trend reversal has also signaled a buy and maintained a positive bias. With the volume participation on the rise, we recommend a buy in this stock for an upside target
of 104 keeping a stop loss of 86.
CMP: Rs 54.05
TARGET: Rs 61.50
STOP LOSS: Rs 50
The stock has witnessed a good run in the past 2-3 weeks from the bottom made at around 36 levels and has maintained a positive bias with a rising trend. Currently, the stock has moved past the significant 200DMA moving average level indicating a breakout and has made the stock to look attractive and with the RSI and MACD on the rise with good volume activity witnessed, we recommend a buy in this stock for an upside target
of 61.50 keeping a stop loss of 50.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.