Technical Positional Pick - Buy Spandana Sphoorty Financial Ltd For Target Rs. 795 - HDFC Securities
The attached weekly timeframe chart of this financial stock SPANDANA indicate an upside bounce after the larger consolidation pattern.
The downward correction of last month seems to be over and the stock price is now set to show the next upside leg soon.
The positive sequence like higher tops and bottoms continued and the stock price is now making an attempt to move up towards higher tops.
Volume has started to pick up during upmove in the stock price and weekly RSI is placed to move above 60 levels.
The overall chart pattern of SPANDANA signal long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Spandana Sphoorty Financial Ltd Up to 3 Months @ Add on dips 675 CMP 718 TGT 795 SL 656
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