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Target Price: Rs 641
Stop Loss: Rs 597.50
Stop Loss: Rs 597.50
The stock is trading in the bullish territory after the breakout of the Cup and Handle Pattern and again reclaimed the upper band of the pattern indicating an upward direction in the stock for short to medium term.
In addition, the technical indicator Ichimoku cloud suggests that the price is trading above the cloud, which shows a positive trend in the counter. A momentum indicator RSI (14) reading is above 65 levels, which adds more strength on the upside.
(Vishal Wagh, Research Head, Bonanza Portfolio)
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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