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Published on 6/12/2018 4:59:00 PM | Source: Choice Broking Pvt Ltd

Buy Greenply Industries Ltd For Target Rs.138.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Greenply Industries Ltd #Trading Report #Choice Broking

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*  On an hourly chart, the stock has given a breakout of its range bound movement which shows further upside movement can be seen in the counter.

* On a daily chart, the stock has given a breakout of its downward sloping trendline which indicates that the stock may go up in coming trading sessions.

*  Additionally, the stock has started to trade above its 21 Daily Exponential Moving Average which indicates an upside rally in the counter.

*  A daily momentum indicator RSI reading is at 51.72 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 Greenply Industries Ltd @ 138 Stoploss 131 Target 138

 

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