PIDILITE IN­DUS­TRIES ...................... BUY ......................... CMP ₹830

BSE Code : 500331 Tar­get 1 ..... ₹879 | Tar­get 2 ..... ₹890 | Sto­ploss .... ₹804 (CLS)

Dalal Street Investment Journal - - TECHNICALS | EQUITY -

The stock of Pidilite In­dus­tries is cur­rently trad­ing at ₹830. Its 52-week high and low stands at ₹843/ ₹568.75 made on Au­gust 28, 2017 and De­cem­ber 26, 2017 where ₹843 level also acts as a multi-year high. Con­sid­er­ing the daily time frame, the stock was trad­ing in the range of ₹775 and ₹835.

The level of ₹775 acted as a re­sis­tance-turned-sup­port for the stock and it also hit a dou­ble bot­tom at ₹775 on Aug 10 and Aug 11. The stock re­cently gave a break­out at ₹835 and has also bounced back af­ter wit­ness­ing a pull­back. The 14-pe­riod RSI is quot­ing at 60, while vol­umes are low but jus­ti­fi­able.

Hence, we sug­gest you to Buy the stock for a tar­get of ₹879 fol­lowed by ₹890 and with a stop loss of ₹804

(Clos­ing price as of Aug 30, 2017)

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.