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Published on 24/06/2019 3:48:33 PM | Source: Choice Broking Pvt Ltd

Buy Radico Khaitan Ltd For The Target Rs.302 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Radico Khaitan Ltd #Beverages and Distilleries #Trading Report #Choice Broking

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* On an hourly scale, the stock is sustaining above its 50 Hourly Exponential Moving Average which shows a positive move 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.

* Additionally, the stock has bounced back from the lower Bollinger Band which shows a good upside move the stock.

* A daily momentum indicator RSI reading is at 34.04 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 Radico Khaitan Ltd @285.25 Target 302 Stoploss 277

 

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