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Published on 14/08/2019 5:00:58 PM | Source: Choice Broking Pvt Ltd

Option Strategy Astron Paper & Board Mill Ltd by Choice Broking

Posted in Broking Firm Views - Short Term Report| #Trading Report #Paper Products #Choice Broking #Astron Paper And Board Mill Ltd

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

* On a Daily chart, the stock has given a breakout of its upper band of Broadening Falling Wedge formation which is a reversal formation and signifies a bull run in the counter.

* Additionally, the stock has reversed back after taking a support of its previous support level which suggests bullishness in the counter.

* A daily momentum indicator RSI reading is at 41.39 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions

Recommendation

Buy Astron Paper & Board Mill Ltd @89.75-89.20 Stop Loss 86 Target 97

 

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