MTF Stock Pick Buy Greaves Cotton Ltd For Target Rs. 205 - HDFC Securities
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MTF Stock Pick Buy Greaves Cotton Ltd For Target Rs. 205 - HDFC Securities
TECHNICAL OBSERVATIONS
In the Month of June stock broke out from the crucial double Top resistance of 156
Post Breakout stock witnessed follow up buying with higher volumes, which took the stock to 184.40
From the recent swing high of 184.40, stock saw a correction towards 156.75 on 2nd July 2021. This move has taken the stock price at the previous breakout levels, which is called as throwback
Volumes have gone up significantly along with the price rise in last one month
Primary trend of the stock has been bullish as stock has been forming higher tops and higher bottoms on the daily and weekly charts
Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames
Buy Greaves Cotton Ltd Up to 3 Months @ Average Level 152 CMP 161.80 TGT 205 SL 146
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