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MTF Stock Pick Buy SKF India Ltd For Target Rs. 3339 - HDFC Securities 

TECHNICAL OBSERVATIONS

SKFIND is in strong uptrend on Major time frame. After making a life high on 27th JULY 2021 it started correcting and halted near 2728 levels which also coincide with bullish trend line.

Today stock has broken out from tight range of consolidation with volumes.

It also took multiple support of bullish trend line and resumed its upward momentum along with huge volumes.

RSI 14 on the Weekly and Daily time frame has taken support of 60 level and now moving higher.

+DMI & ADX is well placed above 25 level is observed on the weekly chart which indicates that bulls are in control. Primary trend of the stock has been bullish as stock has been forming higher tops and higher bottoms on the weekly charts. Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames.

Buy SKF India Ltd Up to 3 Months @ Average Level 2830 CMP 3030.10 TGT  3339 SL 2731

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