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Granules India Ltd. (GRANULES)

* Granules has been trading in a steady long term uptrend since 2012, after spending nearly 7 years in a prolonged consolidation phase after listing.

* It usually witnesses time-wise correction after a strong directional up move. And, in line with past instances, it has been trading with a corrective bias for nearly two years, to digest the phenomenal surge from roughly 80 levels to a new record high of 433 levels.

* It is currently hovering around the trendline hurdle and the recent surge post base formation around the 300 levels indicates the prevailing momentum to extend further. We thus recommend accumulating fresh in the given range.

Buy Granules India Ltd - Target : 415, Stop Loss : 315, CMP : 346 Range : 346-348, Period : 1 Month

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