The stock can be bought at current levels and on dips to Rs 1,290 with a stop loss below Rs 1,250 for a target of Rs 1,450 levels.
Sanctum Wealth Management
Endurance Technologies was long-term uptrend forming higher tops and higher bottoms from Rs 518 in November 2016 to Rs 1400 in January 2018. Since then the stock has been trading in a range and consolidating its gains.It has formed a symmetrical triangle pattern which is generally expected to give in the direction of the previous trend. The last couple of sessions have
witnessed bounce back from 200-day moving average with price momentum and high volumes.
Price has given breakout from Bollinger band on the upside with the expansion of band suggesting a continuation of the trend in the direction of the breakout. MACD line on the daily chart has given positive crossover with its average and on weekly chart turning up from equilibrium levels.
Thus, the stock can be bought at current levels and on dips to Rs 1,290 with a stop loss below Rs 1,250 for a target of Rs 1,450 levels.Disclaimer: The views and investment tips expressed by investment expert 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.The Great Diwali Discount!
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