Diwali Picks Transformers & Rectifiers India Ltd Target Rs.385 - 440 by Prabhudas Lilladher Ltd
Transformers & Rectifiers India Ltd
Buy Transformers & Rectifiers India Ltd CMP (Rs) 315 Target (Rs) 385 - 440 Stoploss (Rs) 260
The stock has recently indicated a strong move from the strong support zone of 265 level and has resisted near the 360 zone with some correction witnessed, with currently taking support near the confluence of 50EMA and 200-period MA at 300 zone has indicated a bullish candle formation to improve the outlook once again anticipating for another fresh round of upward move in the coming days. With the RSI cooling off from the overbought zone, currently is well placed indicating a positive trend reversal signaling a buy and can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest to buy and accumulate the stock for the upside targets of 385 and 440 levels keeping the stop loss of 260 level.
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