Buy Future Consumer, target Rs 59: Dinesh Rohira
We have a buy recommendation for Future Consumer which is currently trading at Rs 53.75, says Dinesh Rohira of 5nance.com.
September 05, 2018 / 11:21 AM IST
Despite a negative trajectory on an intraday basis, Future Consumer made a strong rebound on weekly basis to breach upward from its crucial resistance of Rs 50.40 levels after forming a lower base at Rs 44 zone.
It witnessed a reversal trend favoring upward trajectory managing outpace long-term moving average level of 100-50-days at 46 and 51 respectively, and also witnessed a significant volume growth above its daily average.
The weekly RSI level at 63 has shown a positive price divergence while MACD continued to indicate bullish crossover.
We have a buy recommendation for Future Consumer which is currently trading at Rs 53.75 for target of Rs 59.Disclaimer
: The author is Founder & CEO, 5nance.com. 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.