MTF Stock Pick Buy Grindwell Norton Ltd For Target Rs. 1600 - HDFC Securities
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MTF Stock Pick Buy Grindwell Norton Ltd For Target Rs. 1600 - HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price has broken out on the daily chart with higher volumes.
* Stock price is forming bullish higher top higher bottom formation on the weekly chart.
* 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 placed above 60 and rising upwards, Indicating strength in the current uptrend
* Plus, DI is trading above -DI while ADX line has started slopping upwards, Indicating stock is likely to gather momentum in the coming days.
* Considering the Technical evidences discussed above, we recommend buying Grindwell Norton at CMP of 1348 and average at 1260 for the upside targets of 1485 and 1600, keeping a stop-loss at 1215
Buy Grindwell Norton Ltd Up to 3 Months @ Average level 1260 CMP 1348 TGT 1600 SL 1215
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