Published on 12/10/2017 6:00:34 PM | Source: Choice Broking

Buy Intellect Design Arena Ltd For Target Rs.160.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report | #Trading Report #Intellect Design Arena Ltd #Choice Broking


* The stock has started to trade as per the Momentum Triple Pattern theory in hourly chart which shows the bullish sentiments in the stock.

* On a daily chart, the stock has given a breakout of the neckline of its Cup & Handle formation with above average volume which indicates a robust upside move in the counter.

*  Moreover, recently the stock has taken a support of its 50 days exponential moving average which shows bounce back move in the counter.

* On a weekly chart, the stock has started to trade above its 20-weeks exponential moving average which suggests a positive movement in the counter.

*  A daily momentum indicator RSI reading is at 66.67, showing a positive crossover which points out for a positive breath in the stock.

* Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.

 

 

Recommendation

Buy Intellect Design Arena Ltd @ 135.00 – 137.00 Stoploss 125 Target 160

 

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