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Published on 11/01/2019 5:00:25 PM | Source: Choice Broking Pvt Ltd

Buy Dalmia Bharat Sugar and Industries Ltd For Target Rs.110 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Sugar #Dalmia Bharat Sugar and Industries Ltd #Trading Report #Choice Broking

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*  On a weekly chart, the stock has given a breakout of its Cup and Handle pattern which suggests a bull run in the counter.

*  Furthermore, the stock is bounced back after taking a support of around 88.50 level which is 38.2% retracement level of its previous move from 48 level to 113.65 level which suggests a positive move in the counter.

*  Moreover, the stock has started to trade above its 100 Weekly Exponential Moving Average which shows an upside rally in the counter.

*  A daily momentum indicator RSI reading is at 60.40 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 Dalmia Bharat Sugar and Industries Ltd @ 101.25 Stoploss 96.30 Target 110.00

 

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