IGI Logo

Technical Positional Pick - Buy Edelweiss Financial Services Ltd For Target Rs. 80 - HDFC Securities 

TECHNICAL OBSERVATIONS

The financial services stock price (Edelweiss) has witnessed a sustainable upside bounce in the last few weeks, as per weekly timeframe chart.

We observe a larger accumulation type pattern and the stock price has shifted into a sharp upside bounce in the past from near the support around Rs 60-58 levels.

The stock price is now staging upside breakout of the weekly consolidation around Rs 65 and one may expect continuation of upside momentum in the near term.

Weekly 14 period RSI has turned up and is expected to reach to upper 60 levels from its present value of 52.

The overall chart pattern of EDELWEISS indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Edelweiss Financial Services Ltd. Up to 3 months @ Add on dips 62 CMP 66 TGT 80 SL 60

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://www.hdfcsec.com/article/disclaimer-1795

SEBI Registration number is INZ000171337

Above views are of the author and not of the website kindly read disclaimer