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Published on 22/07/2019 4:39:10 PM | Source: Choice Broking Pvt Ltd

Buy Radico Khaitan Ltd For Target Rs.315 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Radico Khaitan Ltd #Beverages and Distilleries #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 around 277 level which is 78.6% retracement level of its previous move from 261.95 level to 332.50 level which suggests a positive move in the counter.

* Additionally, the stock is sustaining above its 21 Days Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 49.50 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 Radico Khaitan Ltd @293.50 Stoploss 285 Target 315

 

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