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Published on 19/07/2019 3:47:38 PM | Source: Choice Broking Pvt Ltd

Buy Finolex Industries Ltd For The Target Rs.565 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Finolex Industries Ltd #Plastic #Trading Report #Choice Broking

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* On a daily scale, the stock has bounced back from of its lower band of Symmetrical Triangle formation which shows stock may accelerate in coming trading sessions.

* Moreover, 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.

* Additionally, the stock has been sustaining above its 200 Daily Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 60.74 level with a positive crossover which points out for a positive breath in the stock.

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

Recommendation

Buy Finolex Industries Ltd @522.50-519.00 Stoploss 501 Target 565

 

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