Buy Koutons Retail; target of Rs 345: IIFL

On the daily chart, Koutons Retail India gave an upside breakout in Monday’s trading session. It suggests that the sideways range is about to end and may reverse into an uptrend. On Monday, the stock rallied by ~2% confirming the bullish set up. We continue to remain positive on the stock from technical perspective as the stock has managed to hold on to its short-term support trendline in ongoing market volatility. The stock attempted to cross its 100-DMA in yesterday’s session. A successful move above Rs 327 could see the stock attempting Rs 345 in the near term. Based on above evidences, we recommend traders to buy the stock above Rs 327 with SL of Rs 320 for target of Rs 345," says IIFL research report.

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