Nandish Shah
Camlin Fine Sciences has given a bullish trendline breakout on the daily chart with higher volumes by closing above the downward sloping trendline adjoining the highs of January 5, 2018 and April 12, 2018.
After forming multiple bottoms in April around Rs 103 - 105 level, the stock price reversed northwards to close above its 5 and 20-DMA with higher volumes.
Oscillators like RSI and KST are showing strength in the stock in the short to medium-term. Therefore, we recommend investors to buy Camlin Fine Sciences for the upside target of Rs 128 and keep a stop loss below Rs 108.
Disclaimer: The author is Technical & Derivatives Analyst at HDFC Securities. The views and investment tips expressed by investment expert 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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