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Published on 25/04/2019 9:17:16 AM | Source: Choice Broking Pvt Ltd

Buy Mahindra Lifespaces Ltd For The Target Rs.412.50 - Choice Broking

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* On a daily chart, the stock has given a breakout of its Triangle formation which indicates a robust upside movement in the counter.

* Moreover, the stock has been trading above its 21 Days Moving Average which is placed at 367.50 level which shows a positive momentum in the counter.

* A volume activity is very healthy since last Three days along with a good base which suggests an accumulation of the stock.

* A daily momentum indicator RSI reading is at 61.25 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above Technical structure, we are expecting a good upside movement in the counter in an Approx. one week.

Recommendation

Buy Mahindra Lifespaces Limited @ 376.95-380.75 SL 365 TGT 412.50 CMP 380.75

 

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