Moneycontrol
Last Updated : Jul 18, 2018 03:03 PM IST | Source: Moneycontrol.com

Hold V2Retail with a target of Rs 342: Mazhar Mohammad

In case if it closes above Rs 425 then a fresh buying should be considered for a target of Rs 490 whereas a breakdown below Rs 380 on a closing basis.

Moneycontrol News @moneycontrolcom

Mazhar Mohammad

Chartviewindia.in

This counter is gradually drifting down after registering a pullback rally from the lows of Rs 342 to a recent high of Rs 497. However, price behaviour of the last couple of trading sessions on weekly charts with narrow ranges is suggesting that this counter may be on the verge of a breakout in either of the directions.

Such breakouts will result in a swift move based on the direction of the breakout. In case if it closes above Rs 425 then a fresh buying should be considered for a target of Rs 490 whereas a breakdown below Rs 380 on a closing basis.

It may lead to a retest of its corrective swing low of Rs 342. Hence, at best it is a hold with a stop below Rs 380 on a closing basis.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their 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 Jul 18, 2018 03:03 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant