MTF Stock Pick Buy Godrej IndustriesĀ Ltd For Target Rs. 720 - HDFC Securities
MTF Stock Pick Buy Godrej Industries Ltd For Target Rs. 720 - HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price has broken out from the downward slopping trendline on the daily chart with higher volumes.
* Short term trend of the Stock is positive where it is trading above its 5,20 and 50-day EMA
* Oscillators like RSI and MFI is showing 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 Godrej Ind at CMP of 585.3 and average at 540 for the upside targets of 655 and 720, keeping a stop-loss at 520
Buy Godrej Industries Ltd Up to 3 Months @ Average level 540 CMP 585.3 TGT 720 SL 520
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