Emargin Positional Pick - Buy Lux Industries Ltd For Target Rs.5200 - HDFC Securities
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Emargin Positional Pick - Buy Lux Industries Ltd For Target Rs. 5200 - HDFC Securities
* Stock price has broken out from the downward sloping trendline on the daily chart with higher volumes.
* Stock price has broken out on the weekly chart as it crossed previous resistance of 4300 odd levels.
* RSI and MFI oscillator is placed above 60 and rising upwards, Indicating strength in the current uptrend
* Plus, DI is trading above -DI while ADX line is placed above 25, Indicating momentum in the current uptrend.
* Considering the Technical evidences discussed above, we recommend buying LUX at CMP of 4289.7 and average at 4000 for the upside targets of 4750 and 5200, keeping a stop-loss at 3850.
Buy Lux Industries Ltd Up to 3 Months @ Average level 4000 CMP 4289.7 TGT 5200 SL 3850
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