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Published on 9/08/2019 4:21:08 PM | Source: Choice Broking Pvt Ltd

Buy Gruh Finance Ltd For Target Rs.277 - Choice Broking

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

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* On an hourly scale, the stock has been sustaining above its 100 Hourly Exponential Moving Average which shows a positive move in the counter.

* Additionally, 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.

* On a daily chart, the stock is forming Double Bottom pattern which is a bullish reversal pattern and suggests a bull run in the counter.

* A daily momentum indicator RSI reading is at 47.57 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 Gruh Finance Ltd @261.85 Stop Loss 253 Target 277

 

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