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Last Updated : May 30, 2018 11:39 AM IST | Source: Moneycontrol.com

Accumulate Astec LifeSciences, target Rs 800: Shitij Gandhi

One can accumulate the stock in the range of Rs 710-725 levels for the upside target of Rs 800 levels and a stop loss below 660.

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Shitij Gandhi

Last month, Astec LifeSciences has given a consolidation breakout above Rs 650 levels and tested Rs 770 levels in the short span of time. However, prices have now again gone into a consolidating zone and formed a rectangle pattern on weekly charts.

The stock broke out of the pattern with considerably larger volumes which signals fresh up move in the coming sessions. Therefore, one can accumulate the stock in the range of Rs 710-725 levels for the upside target of Rs 800 levels and a stop loss below 660.

Disclaimer: The author is Senior Research Analyst, SMC Global Securities Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on May 30, 2018 11:39 am
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