Published on 9/01/2018 5:04:25 PM | Source: Choice Broking Pvt Ltd

Buy Asahi India Glass Ltd For Target Rs.419.00 - Choice Broking

Posted in | #Trading Report #Choice Broking #Asahi India Glass Ltd


* On hourly chart, the stock has given a breakout of its descending triangle pattern, which suggests further thrust in the counter.

* Additionally, the stock has been trading above its short term as well as medium term exponential average which signifies strength in the stock.

* Moreover, the stock is trading with a positive crossover of 20*50 hourly exponential moving average with ample volume activity which suggests a further northward movement.

* The daily momentum indicator RSI reading is at 62.05 with a with a positive crossover as well as the RSI has given breakout of its downward sloping trend line 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 Asahi India Glass Ltd @ 388 StopLoss 374  Target 419

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