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Published on 9/11/2018 9:43:38 AM | Source: Choice Boking

Buy Manapuram & Sell Balkrishna Ind - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Broking Firm Views Report #Choice Broking

BALKRISHNAIND Sell in the range of 933.50 & Upto 938.10 with the SL of 966.25 for the Target of 891.25

On a daily chart, the stock has given a close below its 21 Days Moving Average which shows a negative trend for the time being. Moreover, the s stock has plunged with above average volume which indicates an accentuated selling pressure in the counter. A daily momentum indicator RSI reading is at 34.36 level with a negative crossover which points out for a negative breath in the stock. So for trading perspective, one could Sell in the range of 933.50 & Upto 938.10 with the SL of 966.25 for the Target of 891.25.

 

MANAPPURAM Buy in the range of 87.10 & Upto 86.65 with the SL of 83.30 for the Target of 92.15

On a daily chart, the stock has been trading above its 50 Days Moving Average which is placed at 82.25 level which shows that the stock’s near term trend is up. Moreover, on a smaller time frame, the stock has been trading with a Higher Top Higher Bottom formation since last many days which is a continuation pattern and suggests an upward movement in the counter. A daily momentum indicator RSI reading is at 64.97 level with a positive crossover which points out for a positive breath in the stock. So for trading perspective, one could Buy in the range of 87.10 & Upto 86.65 with the SL of 83.30 for the Target of 92.15