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Last Updated : May 03, 2018 10:13 AM IST | Source: Moneycontrol.com

Accumulate Unichem Laboratories, target Rs 321: Achin Goel

"Traders can accumulate the stock in the range of Rs 280-287 for the target of Rs 321 with a stop loss below Rs 269," says Achin Goel, Head of Wealth Management and Financial Planning at Bonanza Portfolio.

 
 
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Achin Goel

On the daily chart, Unichem Laboratories has surpassed above its previous inflection point which suggests growing optimism in the stock. In addition, on the daily chart, an Ugly Double Bottom formation is visible.

The momentum indicator, RSI (14) has moved out of the oversold zone and currently in a bullish crossover which suggests a positive sentiment in the short term.

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Traders can accumulate the stock in the range of Rs 280-287 for the target of Rs 321 with a stop loss below Rs 269.

Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio 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.

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First Published on May 3, 2018 10:13 am
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