setup: LONG based on chart pattern
Buy: Above 220
SL: 196
Target1: 266; Target2 : 300
Investment advice: go with two installments 1st at 220 and 2nd around 200 if it gives a dip
After correcting 30% from the recent top MHRIL has formed a reverse head and shoulder pattern for a possible up-move. Given the momentum in the hotel stocks in last week despite global weakness, it seems MHRIL will also join the bandwagon.
Buy: Above 220
SL: 196
Target1: 266; Target2 : 300
Investment advice: go with two installments 1st at 220 and 2nd around 200 if it gives a dip
After correcting 30% from the recent top MHRIL has formed a reverse head and shoulder pattern for a possible up-move. Given the momentum in the hotel stocks in last week despite global weakness, it seems MHRIL will also join the bandwagon.