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Last Updated : Apr 18, 2018 11:22 AM IST | Source: Moneycontrol.com

Buy NOCIL, target Rs 259: Abhishek Mondal

"traders can buy the stock in the range of Rs 224-227 with a stop loss below Rs 209 (closing) for the target of Rs 259," says Abhishek Mondal, Research Analyst at Guiness Securities.

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Abhishek Mondal

On the weekly chart, NOCIL has given a breakout of its upper band of Symmetrical Triangle formation with higher volumes. The weekly Relative strength index (RSI) is showing an upward momentum and MACD is continuously trading above zero line with positive crossover whereas +DI is continuously trading above –DI.

Based on the above-mentioned observations positional traders can buy the stock in the range of Rs 224-227 with a stop loss below Rs 209 (closing) for the target of Rs 259.

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Disclaimer: The author is Research Analyst, Guiness Securities. 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 Apr 18, 2018 11:22 am
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