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Technical Positional Pick - Buy venkys india Ltd For Target Rs. 3100 - HDFC Securities 

TECHNICAL OBSERVATIONS

* Stock price has corrected nearly 30% from the recent high and now reached near to an important longterm support.

* Stock price reversed northwards and trading above its 5-day EMA with higher volumes.

* RSI Oscillator has exited from the oversold level and now placed above 30 levels.

* MFI Oscillator has fallen below an oversold level of 10 and now bounced back to 25 odd levels.

* Considering the Technical evidences discussed above, we recommend buying Venkys at CMP of 2560 and average at 2380, for the upside targets of 2875 and 3100, keeping a stop-loss at 2270.

Buy venkys india Ltd Up to 3 Months @ Average level 2380 CMP 2560 TGT 3100 SL 2270

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