Women's Day Pick :- Buy COLPAL in Cash @ 2200 Add Upto 2160 TGT 2420 /2530 by Choice Broking
Buy COLPAL @ 2200 & Upto 2160 for the Target of 2420/2530.
The stock recently posted a fresh breakout from a falling wedge pattern on the weekly chart around the 2180 level and successfully retested the breakout line during the current week. The breakout occurred with strong volume, suggesting solid buying interest and confirming the strength of the move. Additionally, the stock is currently trading above its key moving averages, including the 50-DMA and 100-DMA, which further supports the bullish outlook. From a momentum perspective, the RSI remains above the midpoint (50), indicating sustained strength in the stock Based on the above technical setup, investors can consider accumulating the stock around 2200 levels up to 2160 levels, where its key 100-DMA support is placed On the downside, 2029 should be considered as a crucial support level to effectively manage the risk. On the upside the stock has the potential to move towards 2420 and 2530 levels in the medium to long term.
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