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Last Updated : Jul 17, 2018 03:02 PM IST | Source: Moneycontrol.com

Sell United Spirits, target Rs 534: Vinay Rajani

We recommend selling United Spirits for the downside target of Rs 534, keeping stop loss at Rs 600, says Vinay Rajani of HDFC Securities.

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Vinay Rajani

United Spirits has recently breached the crucial support of the multiple bottoms placed around Rs 592 on the weekly charts. It has also breached 200-DMA support with rising volumes. The price has started forming lower tops and lower bottoms on the weekly charts. Oscillators have also turned bearish on the medium term charts.

We recommend selling United Spirits for the downside target of Rs 534, keeping stop loss at Rs 600.

Disclaimer: The author is Technical Analyst at HDFC Securities. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jul 17, 2018 03:02 pm
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