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MTF Stock Pick  Buy The Phoenix Mills Ltd For Target Rs. 925 - HDFC Securities 

TECHNICAL OBSERVATIONS

After showing consolidation movement in the last few weeks, the stock price has shifted into a sharp upmove in this week.

The stock price is currently making an attempt to stage upside breakout of the down trend line resistance at Rs 865-870 levels. This is positive indication and a sustainable move above this area could have a sharp positive impact.

We observe formation of consistent higher bottoms, as per weekly timeframe chart.

Weekly 14 period RSI has moved above 60 levels, which signal further strengthening of upside momentum for the stock price.

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

Buy Phoenix Mills Ltd Up to 3 months  @ Add on dips 783 CMP 833.60 TGT 925 SL 762

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