Stock Picks - Buy Aditya Birla Fashion and Retail Ltd For Target Rs. 233 - ICICI Direct
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Technical Observations
* The share price of Aditya Birla Fashion has witnessed a strong buying demand from the support area of | 190 being the confluence of the 52 weeks EMA (currently at | 190) and the rising demand line joining lows since July 2020 highlighting positive price structure and offers fresh entry opportunity
* The stock on Thursday session has registered a breakout above the falling channel containing the entire corrective decline of the last one months signaling resumption of up move and offers fresh entry opportunity
* We expect stock to resolve higher and head towards its July 2021 high of | 234 levels in the coming weeks
* The weekly stochastic has recently rebounded from its previous major low and has generated a buy signal moving above its three periods average thus validates positive bias.
Buy Aditya Birla Fashion & Retail Ltd @ 212.00-216.00 TGT 233 SL 206
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
Above views are of the author and not of the website kindly read disclaimer
