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