Buy PI Industries Ltd For Target Rs. 3900- Monarch Networth
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PI Industries Ltd.
Stock is trading in higher top higher bottom formation within an upward sloping channel formation marked with (black lines). Price has recently taken support on lower bank of the channel formation as well as on 100EMA and currently trading outside of the downward sloping consolidation market with (red lines)
Relative strength index (RSI) is trading above 50 level which gives some signs of momentum development in price.
Recommendation is to buy at current market price or on dip near 2800 – 2750 level keeping stop loss at 2330 level targeting 3530 level followed by 3900 level within the timeframe of 4-6 months.
Weekly chart:
Buy : PI Industries Ltd : CMP: 2939 SL: 2330 TARGET :- 3900 TIME FRAME: 4-6 MONTHS
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