"Traders can accumulate the stock in a range of Rs 440-450 levels for the target of Rs 500 and a stop loss below Rs 405," says Shitij Gandhi of SMC Global Securities.
Moneycontrol News
Shitij Gandhi
From the past three months, Manpasand Beverages has been trading in a range of Rs 355-425 along with consistent buying at lower levels. However, from the past two weeks, the momentum has been shifted towards the north.
The stock has regained strength above its long-term moving averages on a daily interval. Additionally, we have also witnessed a fresh breakout in prices this week above the Cup and Handle pattern formed on the daily charts which support for the next up move.
Traders can accumulate the stock in a range of Rs 440-450 levels for the target of Rs 500 and a stop loss below Rs 405.
Disclaimer: The author is Senior Research Analyst, SMC Global Securities Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.