Published on 15/09/2020 12:22:48 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy Bombay Dyeing Ltd For Target Rs. 83 - HDFC Securities

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Momentum Pick - Buy Bombay Dyeing Ltd For Target Rs. 83 - HDFC Securities


After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

Currently, the price is making an attempt to show upside move above the key upper resistance.

The short-term trend has turned positive. We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

Volume has started to rise along with the up move in the stock price.

The daily/intraday RSI is showing positive indication.

The overall chart pattern of PEL July Future indicates a short trading opportunity.

One may look to create long trading position as per the levels mentioned above.


Buy Bombay Dyeing Ltd @ 2-7 DAYS 66, 67.80 TGT 83 SL 64.7


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