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Published on 25/06/2019 5:26:39 PM | Source: Choice Broking Pvt Ltd

Option Strategy PTC India Ltd by Choice Broking

Posted in Broking Firm Views - Short Term Report| #PTC India #Power Sector #Trading Report #Choice Broking

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

* Moreover, the stock has started to trade above its 50 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, 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 38.36 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 PTC India Ltd @ 65.50 Target 69.50 Stoploss 63.50

 

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