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Published on 19/07/2019 4:24:10 PM | Source: Choice Broking Pvt Ltd

Buy EIH Ltd For The Target Rs.181 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Hotel sector #EIH Ltd #Trading Report #Choice Broking

 

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* On an hourly chart, the stock has given a breakout of its upper band of Falling Channel formation which indicates a bull run in the counter.

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

* Additionally, the stock has bounced back from the lower Bollinger Band indicator which is hinting a good upside move the stock.

* A daily momentum indicator RSI reading is at 37.63 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 EIH Ltd @170.70 Stoploss 181 Target 165

 

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