Published on 12/10/2017 5:13:42 PM | Source: Choice Broking
Buy Peninsula Land Ltd For Target Rs.29.00 - Choice Broking
* On an hourly chart, the stock has started to trade as per the Momentum Triple Pattern Theory which indicates that the trend is up and the stock could further accelerate its upside movement.
* On a daily chart, recently the stock has taken a support of its 20 days exponential moving average which shows bounce back move in the counter.
* On a weekly chart, the stock has been trading above the 100 weeks exponential moving average with above average volume which suggests a potentiality for a further north side move in the counter.
* An MACD indicator is showing a positive crossover above the zero line and a daily momentum indicator RSI reading is at 58.75 level, showing a positive crossover above the mid-line which shows positive breath in the stock.
* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.
Buy Peninsula Land Ltd @ 27.00 Stoploss 25.90Target 29.00
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