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Podcast | Today's pick: Godrej Agrovet

| Updated on June 16, 2020 Published on June 16, 2020

Breaking above a key medium-term resistance at ₹411, the stock of Godrej Agrovet surged 7.6 per cent on Tuesday with above average volume.

It took support at ₹265 in late March this year and reversed direction, triggered by positive divergence on the daily RSI.

The short-term trend has been up over the past one month since finding support at ₹350 levels.

In early June, the stock had surpassed its 21- and 50-day moving averages and trades well above them.

Both the short- and the medium-term uptrends are intact for the stock. It can continue to move higher and hit the price targets of ₹444 and ₹452 in the ensuing trading sessions. Trader with a short-term horizon can buy with a stop-loss at ₹416 levels.

Published on June 16, 2020