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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