Technical Stock Pick - Buy Hatsun Agro Products Ltd For Target Rs. 1050 - HDFC Securities
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Observations:
* Stock price has broken out from Symmetrical Triangle pattern on the daily chart
* After Breakout, Stock witnessed running correction, found support and bounced back sharply. This indicates the typical throwback setup which usually come post breakout
* Volumes have risen sharply in last 6 sessions
* Stock price has been finding support on its 50 days EMA
* Primary trend of the stock has been bullish, as it has been forming higher top and higher bottom on weekly and monthly chart
* Weekly MACD has shown positive crossover above the equilibrium line
* ADX has risen above the 25 level on daily chart, which indicates bullish momentum in the counter
Buy Hatsun Agro Products Up to 3 Months @ 805-815 CMP 805.30 TGT 907,1050 SL 725
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