Buy Emami Ltd For Target Rs.540 - Religare Broking
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* Emami traded largely in sync with other FMCG counters during the recovery phase post the covid crash. It jumped from the lows of 126 and retested the record high zone around 610 in just one and a half years.
* It witnessed a year-long corrective phase after the phenomenal surge and retested the support zone around 400 levels. The last three months of the move indicate strong base formation.
* It has recently crossed the trendline hurdle and also surpassed the previous swing high with a noticeable surge in volumes. All indicators are pointing towards a steady rise from hereon.
Buy Emami Ltd 483 CE@482-484, STOP LOSS 454, TARGET 540
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