Techno Funda Stock Pick - Buy Alok Industries Ltd For Target Rs. 33 - HDFC Securities
* The attached daily chart of ALOKINDUS is showing bullish evidences as per medium to large degree.
* The stock price has been retracing the last sharp rise which is a downward retracement before next rise.
* The current bearish structure could take some more time to change to bullish.
* The falling leg from key top of 58.50 has started to lose momentum so the stock could turnaround in coming weeks.
* We have given wider range due to volatility in the stock price.
* The MACD oscillator is placed with buying signal after a long time which is also a positive signal for the stock.
Buy Alok Industries Ltd @ 2 quarters 21 - 19 CMP 21.50 TGT 33 SL 12.50
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