Today’s Pick: Granules India (₹311.65): BUY

Gurumurthy K |BL Research Bureau | | Updated on: Aug 02, 2022

Supports are at ₹298 and ₹294

The stock of Granules India is on the verge of seeing a strong bullish breakout. There is an immediate resistance at ₹317. The price indicates that the chances are high to break above ₹317 in the next few days. Such a break will rise to ₹330 initially and then to ₹350 eventually over the next two-three weeks. Supports are at ₹298 and ₹294.

Traders with a short-term perspective can go long at current levels. Accumulate longs on dips at ₹303. Keep the stop-loss at ₹292. Trail the stop-loss up to ₹318 as soon as the stock moves up to ₹324. Move the stop-loss further up to ₹329, the stock touches ₹334 on the upside. Book profits at ₹345.

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

Published on August 03, 2022
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