On the Weekly chart, Akzo Nobel India has broken out from a channel pattern resuming uptrend. Further, on the daily chart, it has broken out from a consolidation phase with healthy volumes affirming bullishness.
RSI has entered in the bull zone after bearing out of broken out from upper Bollinger Band.
Stock may be bought in the range of Rs 1,980-1,990 for targets of Rs 2,150-2,220, keeping a stop loss below Rs 1,880.
Disclaimer: The author is Technical Analyst at YES Securities (I) Ltd. 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.
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