Jayshree Tea has target of Rs 190, says Kunal Bothra, Senior Technical Analyst of LKP.
Bothra told CNBC-TV18, "Jayshree Tea is trading at around Rs 182 and I am looking at an intraday price target of Rs 190. If you look at the technical chart of Jayshree Tea, in the last four-five trading sessions it has managed to stay range bound within Rs 175 and Rs 180-182 band and it has shown good volume pickup."
He further added, "If you look at the indicators the relative strength index (RSI), moving average convergence divergence (MACD) both of them are showing positive momentum in the stock. I believe that the stock which is not corrected as the index or probably as the benchmark indices that is Nifty and the Sensex it's a strong stock and any pullback of sorts in the indices would probably lead to a strong momentum build-up in the strong stocks like Jayshree Tea. So gauging on that particular thought I would be looking at going long in this stock with a price target of Rs 190."
