Stock Picks - Buy EIH Ltd For Target Rs.156 - ICICI Direct
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Technical Observations
* The share price of EIH limited has witnessed strong buying demand from the support area of | 125 being the confluence of the recent four months range breakout area (| 123-100) and rising 20 days EMA (currently placed at | 125 levels signaling resumption of up move and offers fresh entry opportunity
* We expect the stock to continue with its positive momentum and head towards | 156 levels as it is the 123.6% external retracement of the recent breather (| 151-126) placed at | 156 levels
* The stock has already taken eight sessions to retrace just 50% of its preceding six sessions up move (| 107-151), a shallow retracement signals a higher base formation and robust price structure
* The daily 14 periods RSI has recently generated a buy signal moving above its nine periods average thus validates positive bias in the stock
Buy EIH Limited @ 142.00-145.00 TGT 156 SL 136
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
Above views are of the author and not of the website kindly read disclaimer
