Momentum Pick - Buy Bombay Dyeing For Target Rs. 80 - HDFC Securities
After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce
Today’s upmove could be considered as an upside breakout of the narrow range movement/immediate resistance.
The short term trend seems to have turned positive.
We observe a formation of positive candlestick pattern as per intraday/daily/weekly timeframe chart
Volume has started to rise along with the upmove in the stock price
The intraday/daily RSI is showing positive indication.
The overall bullish chart pattern of the stock price indicate long trading opportunity. One may look to buy as per the levels mentioned above.
BUY BOMBAY DYEING 74.75 SL 71.80, TGT 80
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