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MTF Stock Pick Buy Phillips Carbon Black Ltd For Target Rs. 320 - HDFC Securities 

TECHNICAL OBSERVATIONS

* Stock price has broken out on the daily and weekly chart with higher volumes.

* Short term trend of the Stock is positive where it is trading above its 5,20 and 50-day EMA

* Oscillators like RSI and MFI is showing strength in the current uptrend

* Plus, DI is trading above -DI while ADX line is placed above 25 Indicating momentum in the current uptrend

* Considering the Technical evidences discussed above, we recommend buying Phillips Carbon at CMP of 252.4 and average at 235 for the upside targets of 284 and 320, keeping a stop-loss at 224

Buy Phillips Carbon Black Ltd Up to 3 Months @ Average level 235 CMP 252.4 TGT 320 SL 224

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