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Published on 28/11/2020 9:36:08 AM | Source: Religare Broking Ltd

Buy Radico Khaitan Ltd For Target Rs. 530 - Religare Broking

Posted in Broking Firm Views - Short Term Report| #Expert Views #Radico Khaitan Ltd #Trading Report #Religare Broking Ltd

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Technical Outlook

* RADICO had rallied almost vertically after listing in 2003 and reached from a single digit mark to 200+ in just 3 years. It has had a prolong consolidation phase afterward, which lasted for nearly 11 years. It hovered within the range of 75-175 levels during that phase.

* It finally witnessed a breakout from that range in October 2017 and reached to a new record high (496.51) in the next nine months.

* It has been consolidating in a broader range for the last two years after that phenomenal surge and formed a new base. Currently, it’s trading around the upper band of the range and likely to see a fresh breakout in the near future. We believe it’s an excellent opportunity to create fresh positions. Traders can buy at current levels (454.50) and add more on dips around 435. They should maintain a close below stop loss of 410 for the target of 530.

 

Buy Radico Khaitan Ltd @ 435-455 2-3 Months CMP 454.50 TGT 530 SL 410

 

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