Published on 10/01/2018 4:38:33 PM | Source: Choice Broking Pvt Ltd

Buy Mukand Ltd For Target Rs.105.00 - Choice Broking

Posted in | #Metals Sector #Trading Report #Choice Broking #Mukand Ltd


* On an hourly chart, the stock has given a breakout of ‘Inverted Head & Shoulder Pattern’ with increase in volume activity which indicates an upside movement in the counter.

* Additionally, a sudden spurt in the volume has been witnessed during last few trading session which indicates aggressiveness of participants.

* Moreover, the stock has bounce back from in strong support of 21 Days Exponential moving average which suggest a positive trend in a stock

* A momentum indicator RSI(14) reading is at 66.00 level with a positive crossover on an hourly chart which points out 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 Mukand Ltd @ 95.00 StopLoss 90.00 Target 105.00

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