The stock may be bought in the range of Rs 707-709 for a target of Rs 780-815, keeping a stop loss below Rs 650, says Aditya Agarwala of YES Securities.
On the weekly chart, Hatsun Agro Product is on the verge of a breakout from a channel pattern neckline placed at Rs 720. A breakout above Rs 720 with healthy volumes can resume the uptrend taking it to levels of Rs 780-815.
On the daily chart, it has started forming higher highs and higher lows. Further, good volumes are seen on the bull candles which confirm bullishness.
Moreover, RSI has turned upwards after taking support at the lower end of the bull zone i.e. 40 level suggesting higher levels in the coming trading sessions.
The stock may be bought in the range of Rs 707-709 for a target of Rs 780-815, keeping a stop loss below Rs 650.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.The Great Diwali Discount!
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