Powered by: Motilal Oswal
25/05/2018 5:25:32 PM | Source: Choice Broking Pvt Ltd
Buy Ramco Industries Ltd For Target Rs.270.00 - Choice Broking
News By Tags | #223 #4124 #2060 #3050
Buy Ramco Industries Ltd For Target Rs.270.00 - Choice Broking

* On an hourly chart, the stock has given a breakout of its upper band of Falling Channel formation which signifies a bull run in the counter.

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

* On a weekly chart, the stock is bouncing back after taking a strong support of around 231 level which is 38.2% retracement level of its previous move from 79.20 level to 325.70 level which suggests a positive movement in the counter.

* A daily momentum indicator RSI reading is at 49.69 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.

Recommendation

Buy Ramco Industries Ltd @ 252.50 Stoploss 244 Target 270

To Read Complete Report & Disclaimer Click Here

For More choiceindia Disclaimer http://www.choiceindia.com/disclaimer.aspx 

Above views are of the author and not of the website kindly read disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here