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Published on 1/07/2019 4:45:42 PM | Source: Choice Broking Pvt Ltd

Buy Gruh Finance Ltd For Target Rs.300 - Choice Broking

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

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* On a weekly scale, the stock has bounced back after taking a support of around 268 level which is 50% retracement level of its previous move from 204.60 level to 332.60 level which suggests bull may take charge in the counter.

* On an hourly scale, the stock is sustaining above its 50 Hourly Exponential Moving Average which suggests strength in the counter.

* On a daily scale, the stock has given a breakout of its falling trend line which suggests a robust upside movement in the counter.

* A daily momentum indicator RSI reading is at 41.32 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 @282 Target 300 Stoploss 273

 

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