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TD Power Systems Ltd

Buy TD Power Systems Ltd CMP (Rs) 705 Target (Rs) 870 - 940 Stoploss (Rs) 580

The stock has witnessed a significant run up in the last one year with series of higher low formation pattern visible on the daily chart maintaining the strong uptrend with recently having witnessed a short period of correction has taken support near the 620 zone and has indicated a decent revival to move above the resistance hurdle of 680 level to improve the outlook technically and once again can anticipate for another fresh round of upward move in the coming days. The RSI has corrected well from the overbought zone and is currently well positioned near the oversold zone with indication of a positive trend reversal to signal a buy and with much upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for the upside targets of 870 and 940 levels keeping the stop loss of 580 level.

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