Moneycontrol
Last Updated : Jun 14, 2018 11:09 AM IST | Source: Moneycontrol.com

Buy Parag Milk, target Rs 392: Achin Goel

Traders can accumulate the stock in the range of Rs 345-350 for the target of Rs 392 and a stop loss below Rs 329, says Achin Goel of Bonanza Portfolio.

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Achin Goel

On the weekly chart, Parag Milk formed a ‘Hammer’ candlestick pattern which is an indication of a bullish reversal. Again, on the daily chart, the price has moved above its range-bound pattern which suggests growing optimism in the stock.

In addition, the price has so far sustained above the 20-days moving average (DMA). Traders can accumulate the stock in the range of Rs 345-350 for the target of Rs 392 and a stop loss below Rs 329.
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.
First Published on Jun 14, 2018 11:09 am
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