Technical Analysis

Trading call | Avanti Feeds (₹576.9): Buy

Yoganand D BL Research Bureau | Updated on December 19, 2019 Published on December 19, 2019

The stock of Avanti Feeds has jumped 5 per cent accompanied by above-average volume in today's session. With this rally, the stock appears to have breached a key immediate resistance at ₹555. The short-term trend has turned bullish now, after being range-bound. The medium-term trend is up. The key immediate support in the band between ₹495 and ₹500 had cushioned the stock early this month. Subsequently, the stock resumed the uptrend and continued to trend upwards. It hovers well above its 50- and 200-day moving averages.

The daily indicators are showing bullish momentum. Traders with a short-term view can buy the stock in dips while maintaining a stop-loss at ₹564. Short-term targets are ₹600 and ₹610.

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Published on December 19, 2019
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