MTF Stock Pick Buy Zydus Wellness Ltd For Target Rs. 2586 - HDFC Securities
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MTF Stock Pick Buy Zydus Wellness Ltd For Target Rs. 2586 - HDFC Securities
TECHNICAL OBSERVATIONS
ZYDUSWELL is in strong uptrend on Major time frame. After making a life high on 27th April 2021 it started correcting and halted near 1985 levels which also coincide with bullish trend line.
Today stock has broken out from ascending triangle on the daily time frame which is bullish continuation pattern.
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 Zydus Wellness Ltd Up to 3 Months @ Average Level 2192 CMP 2345 TGT 2586 SL 2126
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