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Published on 21/08/2019 4:41:50 PM | Source: Choice Broking Pvt Ltd

Buy Aditya Birla Fashion and Retail Ltd For Target Rs.198 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Retail Sector #Trading Report #Aditya Birla Fashion & Retail Ltd #Choice Broking

 

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* On an hourly scale, the stock has bounced back after taking a support of its upward Rising trendline which indicates that the stock may go up in coming trading sessions.

* Moreover, the stock has started to trade above its 21 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, the stock has bounced back from the lower Bollinger Band indicator which hints for a good upside move in the stock.

* A daily momentum indicator RSI reading is at 41.84 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

Recommendation

Buy Aditya Birla Fashion and Retail Ltd @191 Stoploss 187 Target 198

 

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