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Published on 18/06/2019 3:50:37 PM | Source: Choice Broking Pvt Ltd

Buy Gruh Finance Ltd For Target Rs. 318 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #Gruh Finance Ltd #Trading Report #Choice Broking

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* On a daily scale, the stock has bounced back after taking a support of around 283.70 level which is 38.2% retracement level of its previous move from 204.60 level to 332.60 level which suggests a positive move in the counter.

* Moreover, the stock has bounced back after taking a support of its upward Rising trendline which indicates that the stock may go up in coming trading sessions.

* Additionally, the stock is sustaining above its 100 Days Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 42.72 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Gruh Finance Limited Jun Fut @ 296.50-295.00 Target 318.00 Stoploss 285.00

 


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