Tech­ni­cal Out­look:

Money Times - - Stock Analysis -

The stock looks good on the daily chart for medium-term in­vest­ment. It has formed a bullish en­gulf­ing pat­tern on the weekly chart, which in­di­cates that the stock is be­ing ac­cu­mu­lated in heavy vol­umes. The stock trades be­low all im­por­tant mov­ing av­er­ages like the 200 DMA level on the daily chart. Start ac­cu­mu­lat­ing at this level of Rs.455.20 and on dips to Rs.425 for medium-to-long term in­vest­ment and a pos­si­ble price tar­get of Rs.550+ in the next 12 months.

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