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Buy: Rs 1,165-1,175Target: Rs 1,280-1,320Stop loss: Rs 1,120
The stock has formed a bullish reversal ‘Rounding Bottom’ pattern on the daily chart. This breakout is supported by robust volumes. Bulls are in strong momentum as it’s been seen that any dips are getting bought and now 200SMA is acting as a strong base for this counter. On the weekly chart, prices have surpassed the key hurdle of 50SMA and retracement levels indicating a bullish scenario across all major time frames.
Analyst: Rajesh Bhosale, Technical Analyst, Angel One
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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