MTF Stock Pick Buy Sunteck Realty Ltd For Target Rs. 335 - HDFC Securities
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MTF Stock Pick Buy Sunteck Realty Ltd For Target Rs. 335 - HDFC Securities
TECHNICAL OBSERVATIONS
The sharp down trended movement in this realty stock (Sunteck Realty Ltd) seems to have ended, as the stock price has bounced up sharply in this week.
We observe a formation of an important bottom reversal at Rs 250 in early part of May 21 (ascending trend line) and the stock price is now showing upside bounce after two weeks of range movement.
Volume has started to rise while the stock price showed sharp upmove in this week. This is positive indication.
Weekly 14 period RSI has turned up from near the key lower levels of 40. This indicate strengthening of upside momentum in the stock price.
The overall chart pattern of SUNTECK indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Sunteck Realty Ltd Up to 3 months @ Add on dips 260 CMP 275.80 TGT 335 SL 255
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