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Published on 14/08/2020 12:20:15 PM | Source: ICICI Direct

Stock Picks - Buy Sequent Scientific Ltd For Target Rs. 150 - ICICI Direct

Posted in Broking Firm Views - Short Term Report| #Pharma Sector #Sequent Scientific Ltd #Trading Report #ICICI Direct

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Technical Observations

* The stock in strong up trend and during current week trade it has rebounded taking support at the lower band of the rising channel containing the price activity of the last one month thus provides fresh entry opportunity

* The share price earlier during July has registered a resolute breakout above the trendline joining its previous highs since February 2020 (| 99) signalling a structural turnaround and resumption of fresh up move

* It has immediate support at | 128 levels as it is the confluence of the current week low and the lower band of the rising channel placed at | 128 levels

* Among oscillators, the daily 14 periods RSI has rebounded taking support at the rising trendline joining lows since April thus supports the positive bias

* We expect the stock to continue its up move and head towards | 150 levels as it is the 123.6% external retracement of the last decline (| 145-128) placed at | 150 levels

 

Buy Sequent Scientific Ltd 133.00-136.00  TGT 150 SL 127

 

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