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Published on 24/04/2019 4:43:01 PM | Source: Choice Broking Pvt Ltd

Buy VRL Logistics Ltd For The Target Rs.292 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Transports and Logistics Sector #Trading Report #VRL Logistics Ltd #Choice Broking

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* On a daily chart, the stock is on a verge to give a breakout of its upper band of Triangle formation which indicates a robust upside movement in the counter.

* Moreover, the stock has sustained above its 21 & 50 Days Moving Averages which suggests a positive momentum in the counter.

* On an hourly chart, the stock has given a close above its 200 Hourly Moving Average which also suggests a positive rhythm in the counter. .

* A daily momentum indicator RSI reading is at 54.15 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 downside movement in the counter in a few trading sessions.

Recommendation

Buy VRL Logistics Limited @ 275.30 SL 267.00 TGT 292.00

 

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