EID Parry (CMP:150.1) - The stock has tested lower channel line support level & bounced back with strong positive candle on the monthly chart which signifies bounce back on the cards. Now the stock is trading above 200 Day SMA ( 146.1). An addition on the daily chart, the stock has given falling trend line break out which suggests that fresh bullish momentum. RSI has given positive crossover which signs strength.
Cluster resistance level placed at 155. Once 155 surpassed, it's likely to rise towards 175 - 195 levels for medium term. Support level placed at 125.
Recommendation: Investors can buy on dips to 143 - 135 levels for the target of 175 - 195 levels with a stop loss of 125 (closing basis).
No comments:
Post a Comment