Can I enter Motilal Oswal at the current price?
- Deepak Nyamagoudar
BUY MOTILAL OSWAL FINANCIAL SERVICES AT CMP
Motilal Oswal Financial Services is currently trading at Rs 1484. Its 52-week high/low stand at Rs 1518.85/Rs 439.10 made on October 11, 2017 and November 21, 2016, respectively. Considering the daily time-frame, the stock has given a multiple resistance breakout at Rs 1306-1309 levels on October 4 and has surged up to its 52-week high. The stock corrected up to 23.6% retracement of the prior upward rally and has recently attempted a bounce back. The 14-period RSI has given positive crossover though at 70 level, with volumes slightly growing. We, therefore, suggest a Buy in the stock as kind of Flag pattern is in the making.