Comments
The short-term outlook for Vedant Fashions is bullish. The stock has been moving up for over a week now. So far this week, the 4 per cent rise has taken the share price well above the key resistance level of ₹1,190. The region between ₹1,200 and ₹1,185 will now act as a good support zone and limit the downside. Fresh buyers are likely to emerge at lower levels. Vedant Fashions’ share price can rise to ₹1,310-₹1,315 in the next few weeks. Traders can go long now at ₹1,223. Accumulate on dips at ₹1,205. Keep the stop-loss at ₹1,175 initially. Trail the stop-loss up to ₹1,235 as soon as the stock moves up to ₹1,260. Move the stop-loss further up to ₹1,270 when the price touches ₹1,290. Exit the long positions at ₹1,310.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.