Buy EID Parry; target of Rs 170: ICICIdirect

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26 Aug, 2025 12:21

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ICICIdirect.com's report on EID Parry (India)The share price of EID Parry is witnessing base formation at the long term trend line support joining the lows of 2009 (Rs 49) and Rs 2013 (Rs 102) currently placed at Rs 125 levels. The stock consolidating after a stiff correction near the major long term support indicates value buying near the key support level. The recent consolidation highlights accumulation by stronger hands as the stock has witnessed a increase in volume in the last two weeks  thus indicating larger participation at the long term support levelWe expect the stock to held on to its long term trend line support and resume its uptrend after the recent consolidation. The stock is likely to retrace 38.2% of the entire decline from the 2014 high of Rs 245 to the recent low of Rs 124 placed at Rs 170 levelsStrategy: Buy EID Parry in the range of Rs 128-134 for a target of Rs 170 with a stop loss below Rs 121 on a closing basis**For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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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