Comments
The short-term outlook for the stock of Pricol is bullish. The stock surged 7.55 per cent on Thursday. This has taken the stock well above key resistance level of ₹195. It also confirms an inverted head and shoulder reversal pattern strengthens the bullish case. The neckline support of this pattern is at ₹195. A fall below ₹195 is less likely. Pricol can rally to ₹220 over the next one-two weeks.
A strong break above ₹220 will open doors to target ₹230 and ₹245 over the next three-four weeks. Traders can go long at current levels. Keep the stop-loss at ₹192. Trail the stop-loss up to ₹205 when the stock moves up to ₹209. Move the stop-loss further up to ₹213 when Pricol touches ₹216 on the upside. Book profits at ₹218.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
COMMENT NOW
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.