The stock of Pidilite Ind has made a higher bottom formation pattern in the daily chart and has recovered from recent lows
The stock has maintained a strong base near 1970-1980 levels and has picked up momentum improving the bias and also the RSI indicator has indicated a trend reversal from the oversold zone and has signaled a buy. We anticipate further upward rise in the coming days and we suggest to buy and accumulate this stock for the positional target of Rs 2200-2250, keeping the stop loss near Rs 1980 levels.
BUY PIDILITE INDS | CMP: Rs 1468 | TARGET: Rs 1600-1640 | STOP LOSS: Rs 1350
The stock has made a higher bottom formation pattern in the daily chart and has recovered and bounced back strongly to improve the bias and also the RSI is on the rise getting stronger and we can anticipate further upward movement in the coming days. We suggest to buy and accumulate the stock for an upside potential target of 1600-1640 keeping the stop loss of 1350.
Disclaimer: Analyst may have positions in one or more stocks. Views are personal