The stock has made a decent bottom near 950 level, forming a strong base, and has indicated a positive bullish candle pattern in the daily chart, moving past the significant 50-EMA level of 970 to further improve the bias. We anticipate an upward move in the coming days. The RSI is also showing a trend reversal and has signaled a buy. We suggest to buy and accumulate this stock for an upside target of 1,150-1,200 keeping the stop loss of 950. CLICK HERE FOR THE CHART
The stock has been in a consolidation phase for quite some time maintaining the base near 255 levels and currently has given a bullish candle pattern in the daily chart to strengthen the bias. The stock has moved past the significant 50-EMA level of 269 to further improve the bias. Also, the RSI is indicating a trend reversal, making the chart look attractive. We suggest to buy and accumulate this stock for an upside target of 350-370 keeping the stop loss of 255. CLICK HERE FOR THE CHART
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.