IGI Logo

MTF Stock Pick Buy Rossari Biotech Ltd For Target Rs. 1498 - HDFC Securities 

TECHNICAL OBSERVATIONS

After showing a larger consolidation movement over the last couple of months, the stock price has witnessed a sharp upside bounce in this week.

We also observe an upside breakout of the down sloping trend line, which is indicating a sharp turnaround for the stock price ahead.

The stock price continued to sustain above the immediate weekly support of 10w EMA and we notice larger positive sequence like higher tops and bottoms, as per weekly chart.

Weekly 14 period RSI and DMI/ADX suggest further strengthening of upside momentum for the short term.

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

Buy Rossari Biotech Ltd Up to 3 Months @ Add on dips 1275 CMP 1355 TGT 1498 SL 1235

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