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CMP
1395
Recommended Action
Buy between CMP & 1320
Targets
1550, 1700
SL*
Time Horizon
1280
1-2 Months
Note: * Place stoploss as per daily closing basis. Recommended to stagger buying/selling. If first target achieved, then revise
stoploss to buying/selling price.
Bullish MACD
Bullish ADX
Technical Evidences
Stock price has been taking support on 100 Week Exponential moving average, which is currently placed at
1134.
Recently Stock has broken out from the symmetrical triangle on the weekly chart, indicating continuation of
an primary uptrend
Stock is on the verge of registering new all time high above 1524 with higher volumes
Short term moving averages are trading above long term moving averages, indicating strength in the counter
Oscillators like MACD and ADX have turned bullish on the weekly chart, which strengthen the chances of
price appreciation from here.
Considering the technical evidences discussed above, we advise buying the stock between CMP and 1320, for
the upside targets of 1550 and 1700, keeping stop loss at 1280 on closing basis.
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