UNITED SPIR­ITS LTD FUT LTD .................. SELL ............... CMP ₹ 2413

NSE Code : MCDOW­ELL-N Tar­get 1 ..... ₹ 2390 | Tar­get 2 ..... ₹ 2380 | Sto­ploss....₹2445 (CLS)

Dalal Street Investment Journal - - TECHNICALS | EQUITY -

The stock of United Spir­its is cur­rently trad­ing at ₹ 2413. Its 52-week high and low stand at

₹ 2782.75/ ₹ 1775 made on July 19, 2017 and Novem­ber 22, 2016, re­spec­tively.

Con­sid­er­ing the daily time frame, the stock is trail­ing at its re­sis­tance-turned-sup­port level, and hence, be­low ₹ 2420 the stock may cor­rect fur­ther.

Re­cently, the stock had wit­nessed a fall for four con­sec­u­tive trad­ing ses­sions af­ter a re­ver­sal Doji on Septem­ber 19. There­after, the stock took a day’s breather and has re­versed yet again. The de­clin­ing vol­umes and the 14-pe­riod RSI quot­ing at 35 sug­gests lack of up­side mo­men­tum, for now.

Con­sid­er­ing this, we rec­om­mend a Sell in the stock be­low ₹ 2420 for a tar­get of ₹ 2390 fol­lowed by

₹ 2380 and for a stop loss of ₹ 2445 (Clos­ing price as of Sept 27, 2017)

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