Traders can accumulate the stock in a range of Rs 53-54 for the upside target of Rs 59 with a stop loss below Rs 49, says Shitij Gandhi of SMC Global Securities.
Moneycontrol Contributor
@moneycontrolcom
Shitij Gandhi
After taking support at its 200-day exponential moving average Filatex India raised sharply and once again surpassed its short-term moving averages to hold its uptrend with a formation of higher highs and higher lows pattern on daily charts.
Additionally, the stock has also given breakout above the bullish flag pattern in recent sessions which suggest for more upside in prices moving forward. So, traders can accumulate the stock in a range of Rs 53-54 for the upside target of Rs 59 with a stop loss below Rs 49.
First Published on Nov 21, 2018 11:05 am
