Aditya Agarwala
YES Securities
On the daily chart, Future Consumer is on the verge of a breakout from a wedge pattern triggering a resumption of the uptrend on cards.
A sustained trade above 50 will extend the uptrend to levels of Rs 55-58. Further, on the weekly chart, it has turned upwards after taking support at the 100-DMA indicating that the bullishness is intact in the stock.
The RSI has turned upwards after forming a double bottom suggesting extended bullishness in the coming trading sessions. The stock may be bought in the range of Rs 48-50 for targets of Rs 55-58, keeping a stop loss below Rs 45.
Disclaimer: The author Technical Analyst at YES Securities (I) Ltd. 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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