* On a daily chart, the stock has confirmed Bullish Harami pattern which is a bullish reversal formation and suggests an upside move in the counter.
* Moreover, the stock has given a breakout of its downward sloping trendline which indicates that the stock may go up in coming trading sessions.
* A daily momentum indicator Stochastics, K% has given breakout above D% from oversold zone with a positive divergence which points out for a bounce back move in the stock.
* A daily momentum indicator RSI reading is at 45.80 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.
Buy Allcargo Logistics Ltd @ 98.50 Stoploss 94.50 Target 105
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