Emargin Positional Pick - Buy Sequent Scientific Ltd For Target Rs. 244 - HDFC Securities
After showing sideways range movement in the last few weeks, the stock price has shifted into an upside bounce in this week.
Presently, the stock price is making an attempt to stage upside breakout of the crucial overhead resistance around Rs 225 levels. Hence, a sustainable move above this area could open a sharp upside breakout.
The down trend of the last few months seems to have completed with the bottom formation of Rs 198 in the week before last.
Weekly 14 period RSI has turned up from 40 levels, which signal further strengthening of upside momentum in the stock price ahead.
The overall chart pattern of SEQUENT indicates long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Sequent Scientific Ltd Up to 3 Months @ Add on dips 208.50 CMP 221.15 TGT 244 SL 202.50
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