MTF Stock Pick - Buy Ramco Industries Ltd For Target Rs. 320 - HDFC Securities
MTF Stock Pick - Buy Ramco Industries Ltd For Target Rs. 320 - HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price has broken out on the daily chart with higher volumes where it is trading at highest level since August 2018
* Oscillators like RSI & MFI is showing strength in the current uptrend of the stock
* Plus, DI is trading above -DI while ADX line is placed above 40 Indicating momentum in the current uptrend
* Primary trend of the stock is positive where stock price is trading above its 100 and 200-day EMA
* Considering the Technical evidences discussed above, we recommend buying the Ramco Ind at 247 and average at 228, for the upside targets of 278 and 320, keeping a stop-loss at 220
Buy Ramco Industries Ltd Up to 3 Months @ 247-251 CMP 247 TGT 320 SL 220
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