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MTF Stock Pick Buy La Opala Rg Limited For Target Rs. 312 - HDFC Securities 

TECHNICAL OBSERVATIONS

* After a sharp upmove in the later part of May 21, the stock price has shifted into a larger consolidation pattern over the last 7-8 weeks.

* The stock price has moved up recently and is making an attempt to move above the crucial overhead resistance of down sloping trend line at Rs 295 levels.

* A sustainable move above Rs 295 could also be considered as an upside breakout of the bullish flag type formation, which is an uptrend continuation pattern.

* Weekly 14 period RSI has turned up above 60 and weekly 14 period DMI/ADX are showing positive signal. One may expect further strengthening of upside momentum from here.

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

Buy La Opala Rg Limited Up to 3 Months @ Add on dips 266 CMP 282.65 TGT 312 SL 259

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