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Podcast (English) | Today's Pick: Future Retail

| Updated on February 11, 2020 Published on February 11, 2020

After an intermediate-term downtrend, the stock of Future Retail found support at ₹323 in November 2019. The stock thereafter started to consolidate sideways in a narrow band between ₹323 and 353 with an upward bias.

The stock has been trending upwards over the past one week and currently tests a key resistance at ₹353. Though the stock currently tests the upper boundary of the sideways range, the indicators are showing bullish signs and project an upward breakthrough.

The resumption of the near-term uptrend can take the stock higher to ₹368 initially and then to ₹375 in the upcoming trading sessions.

Traders with a high-risk appetite can buy the stock at current levels with a stop-loss at ₹345.

Published on February 11, 2020