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03-03-2021 11:38 AM | Source: HDFC Securities
Stock Pick - Buy Triveni Engineering & Industries Ltd For Target Rs. 104,123 - HDFC Securities
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Stock Pick - Buy Triveni Engineering & Industries Ltd For Target Rs. 104,123 - HDFC Securities 

Observations:

* Bullish inverted head and shoulder pattern on the weekly charts

* Multiple top resistance of 84 is surpassed on closing basis

* Volumes during the breakout remained significantly higher as compared to previous weeks

* Primary trend of the stock has been bullish with higher tops and higher bottoms on daily and weekly carts

* Stock is placed above all important moving average parameters

* Sugar Stocks have started outperforming the momentum is building up in the entire sector

* Indicators and oscillators like MACD and DMI have been showing strength on the daily and weekly charts

Buy Triveni Engineering & Industries Ltd Upto 3 Months @  Buy between CMP & 90.35 TGT 104,123 SL 79

 

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