Technical Positional Pick - Buy Ramco Industries Ltd For Target Rs. 330 - HDFC Securities
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Technical Positional Pick - Buy Ramco Industries Ltd For Target Rs. 330 - HDFC Securities
TECHNICAL OBSERVATIONS
* Stock price has broken out from the downward slopping trendline on the daily chart
* Short term trend of the stock turned positive where it is trading above its 5- and 20-day EMA
* Oscillators like RSI and MFI is showing strength in the stock
* Primary trend of the stock is positive where it is trading above its 100 and 200-day EMA
* Stock price is forming higher top higher bottom formation on the daily and weekly charts
* Plus DI is trading above Minus DI while ADX is placed above 25, Indicating momentum in the uptrend
* Considering the Technical evidences discussed above, we recommend buying the Ramco Ind between 264.45-270 and average at 250, for the upside targets of 296 and 330, keeping a stop-loss at 240
Buy Ramco Industries Ltd Up to 3 Months @ 264.45-270 CMP 264.45 TGT 330 SL 240
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