Technical - Conviction Delivery Idea : Granules India Ltd For Target Rs. 840 - Motilal Oswal Financial services Ltd
Granules India Ltd
Technical View
Nifty Pharma Index has given a breakout from 18 months consolidation phase. This indicates that the sector could rally higher in the near term.
This stock has been an outperformer within the sector in the recent past and has now surpassed its previous high, hinting at a continuation of the uptrend.
The volumes have been increasing along with the price upmove and the RSI oscillator is hinting at a continuation of the positive momentum.
We advise traders to buy the stock at CMP Rs. 735 with stop loss below Rs. 685 for potential target around Rs. 840 in 4 weeks.
Buy Granules India Ltd CMP 735 SL 685 Target 840
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