High Conviction Delivery Idea Buy Equitas Holdings Ltd For target Rs. 71
* Equitas has been moving in a consolidation phase from last three months.
* We witnessed healthy volumes in the sideways movement, indicating buying interest from stronger hands.
* Currently, stock is giving breakout from the consolidation phase, which is a positive sign for the stock.
* It also formed a Narrow range pattern on monthly chart and started moving northward.
* Stock is sustaining above its short term moving average, which bodes well for the bulls.
* RSI oscillator is placed positively on both daily and weekly scale and thus showing strength in the counter.
* Considering current chart structure, we are expecting the stock to move towards 71 levels in coming days.
* Thus, we advise traders to buy the stock in the range of 60.50 – 61.50 with stop-loss of 56.
Buy Equitas Holding Ltd @ 60.50 - 61.50 CMP 60.80 Target 71 SL 56
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