Technical Pick : NFL For Target Rs. 124 - Prabhudas Lilladhar Ltd
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The stock has witnessed a decent erosion from the peak zone of 130 levels and has consolidated taking support near the 93 zone, currently indicated a pullback with a positive candle formation to move past the important 50EMA level of 101 has improved the bias and further rise is expected in the coming sessions. With the RSI cooling off from the highly overbought zone has been well placed and has indicated a trend reversal to signal a buy. With the chart looking good, we suggest a buy in this stock for an upside target of 125 level keeping the stop loss of 101.
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Buy NFL CMP 105.50 Target 124 (17.55%) Stop Loss 98 (7.10%)
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