WABCO

Can I buy shares of Wabco now?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Baskaran M

BUY WABCO IN­DIA AT RS 6400 ON A CLOS­ING BA­SIS

Wabco In­dia is cur­rently trad­ing at Rs 6205. Its 52-week high/low stand at Rs 6403/ Rs 4760 made on March 27, 2017 and Novem­ber 9, 2016, re­spec­tively, which de­picts an up­trend. Con­sid­er­ing the daily time frame, the stock has formed in­verse head and shoul­ders pat­tern with break­out at Rs 6400 level. The stock wit­nessed a cor­rec­tion af­ter hit­ting the Rs 6400-mark on Oct. 9, but it bounced back from 61.8% re­trace­ment level of the prior up­ward rally. Vol­umes are jus­ti­fi­able and the 14-pe­riod RSI has just given pos­i­tive cross­over and is quot­ing at 60 level, which is pos­i­tive for the stock. Hence, we sug­gest you to en­ter ei­ther at CMP or the risk-averse in­vestors can en­ter at Rs 6400 level on a clos­ing ba­sis.

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