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Last Updated : Aug 06, 2018 11:25 AM IST | Source: Moneycontrol.com

Buy United Spirits, target Rs 735: Shabbir Kayyumi

As of now, point of polarity is giving cues to accumulate this stock at lower levels.

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Shabbir Kayyumi

Narnolia Financial Advisors

After hitting the peak of Rs 800, United Spirits slipped lower towards its previous resistance which should be acting as a support and chances of developing of demand is higher as it was 200 WMA too. As of now, point of polarity is giving cues to accumulate this stock at lower levels.

The RSI also seems to be bottomed out near the oversold zone which can club with the divergence in RSI on weekly chart. As long as it sustains above Rs 540, possibility of moving on upside is higher and it can hit our first target of Rs 720 and second target is Rs 750 with an ease from current levels.

Disclaimer: 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 Aug 6, 2018 11:25 am
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