Kunal Bothra of LKP told CNBC-TV18, "Mcleod Russel looks to be forming a very good pyramid formation and if one looks at the hourly charts it is purely a trading bet."
"If I am looking at a timeframe of 3-5 days there is a inclination that probably it will break Rs 272-273 and once that happens one could look for a target of Rs 285 from a trading timeframe and stoploss would be at Rs 255," he said. The share touched its 52-week high Rs 386.95 and 52-week low Rs 240.35 on 22 February, 2013 and 20 August, 2013, respectively. Currently, it is trading 31.76 percent below its 52-week high and 9.86 percent above its 52-week low. Market capitalisation stands at Rs 2,890.18 crore.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
