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Technical Observations

* The stock has been consolidating after recording a resolute breakout above the multi year resistance around | 500. Currently stock resolved out of past three weeks consolidation, indicating resumption of primary up trend. Thereby, offering fresh entry opportunity

* We believe, stock has formed a higher base around | 488 as over past three weeks it has undergone slower pace by retracement. It took three weeks to retrace 38.2% of preceding two weeks rally (| 422-522), at | 484, indicating healthy consolidation.

* The daily 14 periods RSI has generated a buy signals moving above its nine periods average thus validates positive bias

* We expect stock to continue with its current upward momentum and eventually head towards our earmarked target of | 578, as it the implication of recent range breakout (| 480-530), | at 580

Buy Radico Khaitan Ltd @  520.00-530.00 TGT 578.00 SL 488.00

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