MTF Stock Pick Buy Ashoka Buildcon Ltd For Target Rs. 98 - HDFC Securities
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MTF Stock Pick Buy Ashoka Buildcon Ltd For Target Rs. 98 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached weekly timeframe chart of Ashoka Buildcon Ltd signal an important bottom reversal pattern at Rs 79 in mid part of May 21.
The stock price has reversed up of a couple of months down trend and showed sustainable upside bounce in the last week and follow-through upmove so far this week.
Previously for few occasions we observe an emergence of sharp uptrend from the lows after the bottom reversal. Hence, one may expect further strengthening of upside momentum in the stock price ahead.
Weekly 14 period RSI shows positive indication.
The overall chart pattern of ASHOKA BUILDCON LTD indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy – Ashoka Buildcon Ltd Up to 3 Months @ Buying Range CMP-83 CMP 88.30 TGT 98 SL 80.50
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