Achin Goel
On the weekly chart, Camlin Fine Sciences has given a breakout from its range-bound pattern, which suggests growing optimism in the stock. On the other hand on the daily chart, a higher trough is observed which suggests waning bearishness.
Moreover, a momentum indicator, RSI (14) is in a bullish crossover and rising on the daily chart. Daily MACD has entered in the positive crossover.
Traders can accumulate the stock in the range of Rs 90-92 for the target of Rs 112 and a stop loss below Rs 84.
Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. The views and investment tips expressed by investment experts 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.
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