Published on 11/07/2018 4:41:18 PM | Source: Choice Broking Pvt Ltd

Buy Surya Roshni Ltd For Target Rs.378.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Metals Sector #Surya Roshni #Trading Report #Choice Broking

*  On an hourly chart, the stock has given break out of “Pennant Formation” which is a continuation pattern, Suggests an upside movement in the stock.

*  Additionally, the stock is trading above it’s 21 and 50 Hourly Moving Averages which indicate strength for an upside movement.

*  On a daily chart, a sudden spurt in the volume has been witnessed during trading session which shows an accentuated buying in the counter.

*  A momentum indicator MACD has given a positive crossover with signal line and trading above zero level line which points out strength in the trend.

*  A daily momentum indicator RSI reading at 61.42 level with a positive crossover which points out a positive breath in the stock.

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


Buy Surya Roshni Ltd @ 344.00-345 Stoploss 330 Target 378

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