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MTF Stock Pick  Buy Heritage Foods Ltd For Target Rs. 440 - HDFC Securities 

After showing a larger range bound action in the last few weeks, the stock price (Heritage Foods Ltd) has witnessed a sharp upside bounce from the last week.

The stock price was moving in a larger triangle type pattern in the last many months and it has witnessed an upside breakout of the triangle at Rs 355 levels in today’s session. Currently trading above it.

This action could be considered as a significant upside breakout of the pattern and one may expect sharp upside in the stock price in near term. The potential upside pattern target could be around Rs 460, in the next 3 months.

Weekly 14 period RSI moved above 60 levels and volume has started to expand while the stock price shows upside breakout of the hurdle. This is positive indication.

The overall chart pattern of Heritage Foods Ltd indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Heritage Foods Ltd Up to 3 Months @ 363-340 CMP 359.60 TGT 440 SL 330

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