IGI Logo

Emargin Positional Pick - Buy Piramal Enterprises Limited For Target Rs. 3180 - HDFC Securities

* Piramal Enterprises is in an intermediate uptrend as it has been making higher tops and higher bottoms for the last several weeks and consistently trading above the 20 week SMA.

* The stock was recently consolidating in a range above the 20 week SMA. On Tuesday, the stock broke out of this range on the back of above average volumes.

* Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Daily momentum indicators like the 14-day RSI have bounced back from oversold levels and are in rising mode now. This augurs well for the uptrend to continue.

* With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy. Our entry levels with stop loss and targets have been mentioned above.

Buy Piramal Enterprises Ltd Up to 1-3 Months @ Buying Range 2600-2740.35 CMP 2740.35 TGT 3180 SL 2530

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Above views are of the author and not of the website kindly read disclaimer