United Spirit can be bought for a short term target purely from technical angle. It is currently hovering around its 52 weeks low of 2226. The stock has come down from the level above 2800 in the last three months. At the current level, the stock is nearing oversold region and having a 14 days RSI of 29.28. The stock price is also near its lower bollinger-band level of 2255.
There was a block deal on 09-Sep-14 for deal price Rs 2262, total transaction amount being Rs 13.23 crore.
The stock is expected to touch Rs 2310 and if it can sustain at this level, it may also touch the level of 2362.
However, it needs to be kept in mind that there are some corporate actions expected and it may affect the stock price. Traders are advised to keep strict stoploss at Rs 2268
There was a block deal on 09-Sep-14 for deal price Rs 2262, total transaction amount being Rs 13.23 crore.
The stock is expected to touch Rs 2310 and if it can sustain at this level, it may also touch the level of 2362.
However, it needs to be kept in mind that there are some corporate actions expected and it may affect the stock price. Traders are advised to keep strict stoploss at Rs 2268
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