Positional traders are advised to buy with a stop of 127 for a target of 147.
Moneycontrol News
@moneycontrolcom
Mazhar Mohammad
Indian Hotels registered a breakout above its minor consolidation zone of 9 days on relatively higher volumes in the last trading session. Besides, as it is consistently trading above its 200 Day Exponential Moving Average for the last couple of trading sessions there is a bright chance that this counter can initiate a rally and jump to higher levels.
However, Rs 139 looks like a hurdle which it should surpass as it has just broken out of its consolidation zone. In such a scenario, the initial target of Rs 147 can be swiftly expected. Positional traders are advised to buy with a stop of Rs 127 for a target of Rs 147.First Published on Nov 19, 2018 11:14 am
