Podcast | Today's Pick: VIP Industries

| Updated on June 03, 2020 Published on June 03, 2020

Investors with a short-term perspective can buy the stock of VIP Industries at current levels. After registering a 52-week low at ₹187 in late March, the stock bounced up and started to consolidate in a wide range between ₹200 and ₹250 until recently.

On Wednesday, decisively breaking the upper boundary of the sideways consolidation phase at ₹250, the stock jumped 10.7 per cent . Also, the stock trades well above its 21- and 50-day moving averages.

With the ongoing rally, the short-term outlook appears to be bullish for the stock. It can trend upwards and reach the price targets of ₹275 and ₹281 in the ensuing trading sessions.

Traders with a short-term view can buy the stock with a stop-loss at ₹258.

Published on June 03, 2020