PINC Research has come out with a report on HDIL.
Moving Averages crossover: The combination of medium and long term moving averages used to track the trend is in a bullish crossover. This is a very positive sign. This suggests that the downsides to this stock may be minimal from current levels and the medium term trend is likely to remain positive.
Positive Divergence in Momentum Indicator: The medium/long term momentum (MACD) indicator has been making a higher top and higher bottom formation. Price wise though, this stock has made a lower top and a lower bottom in the same time period. This indicates a positive divergence. Such a divergence normally occurs before a sustainable rally and thus it could lead to a trend reversal in the medium term.Technical Commentary/ Observation: Bullish moving average crossover along with the strength in momentum indicators and oscillators augur well for this stock from a medium term perspective. Investors can buy this stock from a three-four month time frame with target of around Rs 195-200.
Disclaimer: 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.
To read the full report click on the attachment
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