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Published on 16/04/2018 5:34:42 PM | Source: Choice Broking Pvt Ltd

Buy Nocil Ltd For Target Rs.240.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Oil and Gas Sector #Trading Report #NOCIL Ltd #Choice Broking

* On a daily chart, the stock has given a breakout of its upper band of Symmetrical Triangle formation which indicates for an upside movement in the counter.

* Moreover, a sudden spurt in the volume has been witnessed which shows a renewed buying in the counter.

* On an hourly chart, the stock has given a breakout of its range bound movement which suggests for a bullish run in the stock.

* A daily momentum indicator RSI reading is at 69.17 level with a positive crossover which points out for a positive breath in the counter.

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


Recommendation

Buy Nocil Ltd @ 222 Stoploss 215 Target 240

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