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Published on 26/04/2019 9:31:49 AM | Source: Religare Securities Ltd

Sell Bharat Forge Ltd For The Target Rs. 465 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #Bharat Forge Ltd #Manufacturing Sector #Trading Report #Religare Securities Ltd

 

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Bharat Forge Limited (BHARATFORG)

BHARATFORG has been witnessing correction for last one year, after making a record high in February, 2018.Though it had made recovery attempt of late but couldn’t surpass the hurdle of long term moving averages on weekly chart. After hovering in a range for almost two months, it is gradually now inching towards its 52 week low. We suggest traders to use any uptick to go short in the given range.

Recommendation

SELL MAY FUTS Bharat Forge Ltd @ 490-494 Stop Loss 506 Target 465 CMP 485.50

 

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