Powered by: Motilal Oswal
09-03-2021 11:15 AM | Source: HDFC Securities Ltd
MTF Stock Pick Buy Grindwell Norton Ltd For Target Rs. 1600 - HDFC Securities
News By Tags | #766 #2034 #3050

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

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

 

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