MTF Stock Pick Buy Sudarshan Chemical Industries Ltd For Target Rs. 780 - HDFC Securities
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MTF Stock Pick Buy Sudarshan Chemical Industries Ltd For Target Rs. 780 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached Daily timeframe chart of Sudarshan Chem, which was moving for sideways for few sessions and in today’s session it has given a breakout with higher volumes.
The stock has also breached above downward sloping trend line.
The stock has taken a support on 50% of the bull candle.
We observe a formation of bullish pattern on daily and weekly time frame.
The stock is trading above 21 EMA.
Momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks.
The overall chart pattern of Sudarshan chem indicates long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Sudarshan Chemical Inds Ltd Up to 3 Months @ Add on dips 635 CMP 655.50 TGT 780 SL 618
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