Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* On an hourly chart, the stock has given a breakout above neckline of its Double Bottom formation which is a bullish reversal pattern and suggests a bull run in the counter.
* Moreover, the stock has been sustaining above its 50 Hourly Exponential Moving Average which shows a positive move in the counter.
* On a daily scale, the stock has bounced back after taking a support of around 125.30 level which is 78.6% retracement level of its previous move from 116.35 level to 156.85 level which suggests a positive move in the counter.
* A daily momentum indicator RSI reading is at 40.97 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.
Buy Greaves Cotton Ltd @133.10-132.00 Stoploss 128 Target 143
To Read Complete Report & Disclaimer Click Here
For More choiceindia Disclaimer https://choicebroking.in/disclaimer
Above views are of the author and not of the website kindly read disclaimer