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Published on 20/02/2020 10:54:33 AM | Source: HDFC Securities Ltd

Momentum Pick : RITES Ltd For Target Rs.350 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #HDFC Securities #Trading Report #RITES Ltd

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Momentum Pick : RITES Ltd For Target Rs.350 - 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.

Recommendation

Buy RITES Ltd  @ 321.40 - 314 SL 310.80 Target 350

 

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