Moneycontrol Be a Pro
Get App
Last Updated : May 14, 2018 09:41 AM IST | Source: Moneycontrol.com

Buy Mahindra Lifespace Developers, target Rs 545: Dinesh Rohira

The scrip formed a bullish candlestick pattern on its daily price chart indicating a reversal pattern from past trend, says Dinesh Rohira of 5nance.com.

Moneycontrol News @moneycontrolcom
Representative image.
Representative image.
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Dinesh Rohira

5nance.com

Mahindra Lifespace went through a consolidation phase since January 2018 after making a higher top at Rs 538 levels and took a strong support at Rs 420-414 levels.

Despite remaining muted in the early session, the scrip made a positive breakout on its weekly price chart along with strong volume growth, indicating a trend reversal.

Close

The scrip formed a bullish candlestick pattern on its daily price chart indicating a reversal pattern from past trend.

Further, a secondary momentum indicator witnessed a breakout with its weekly RSI shifting upward at 65 levels coupled with positive crossover on MACD at 5 from Signal-Line.

The support level for scrip is currently placed at Rs 477 and resistance level from the upper band is placed at Rs 560. We have a BUY recommendation for Mahindra Lifespace Developers which is currently trading at Rs 518.80

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!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on May 14, 2018 09:41 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant