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Published on 13/03/2019 5:18:06 PM | Source: Choice Broking Pvt Ltd

Buy Sadbhav Engineering Ltd For Target Rs.274.25 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Real Estate Sector #Sadbhav Engineering Ltd #Trading Report #Choice Broking

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* On a daily chart, the stock has given a breakout of its Upper Band of Flag Formation which is a Continuation formation and indicates an upside movement.

* Moreover, the stock has started to trade above its 200 Days Moving Average which is placed at 241.40 level which shows that the trend has changed from down to up.

* Furthermore, the stock has also given a breakout of its Upper Band of Broadening Triangle formation which suggests a robust upside movement in the counter.

* A daily momentum indicator RSI reading is at 76.68 level with a positive crossover in an Over Bought zone which points out for a positive breath in the counter along with high volatility.

* Based on the above technical structure, we are expecting a good upside movement in the counter in an Approx. one week.

Recommendation

Buy Sadbhav Engineering Limited @248.25-250.75 Stop Loss 239.00 Target 274.25 CMP 250.75

 

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