Buy Thermax Ltd For Target Rs.2200 - Monarch Networth Capital
Thermax
Stock has given a breakout from long consolidation and given a close above its previous all-time high of 1577 on 15 Nov. Post the breakout, It has made a new high of 1918 level but there was a pullback and it has corrected till 1635. This level is also near the 50% retracement level of recent swing.
Today It is showing signs of reversal after this strong pullback. It is also indicating strong bullish bias daily ichimoku chart.
Recommendation is to Buy in the range of 1600-1700 keeping Stop loss at 1290 level and Target at 1950-2200 levels.
Buy : Thermax Ltd Buy range: 1600-1700 CMP: 1680 SL: 1290 TARGET :- 2200 TIMEFRAME: 3-4 MONTHS
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