If stock opens out of yesterdays range look for buying opportunities when it takes support at buy zone 1.
If stock opens within yesterdays range look for buying opportunities when it takes support at buy zone 2. If you go long on Buyzone2 then your first target should be yesterday high.
Sector and Stock both are RS positive
Emami Limited spread chart: Spread chart is already showing that it is outperforming the nifty index.
Currently its spread chart is at support line and there is high probability that it starts again outperforming the nifty.
Risk and Reward are quite good, Stock is currently at its support and there is high...
Please refer the earlier charts updated wherein it was projected for 240 odd levels from 180 levels and now it is expected to move towards 280-300 kind of levels.
Please make a note that this chart is for Educational Purpose Only
Buy-> EMAMILTD Above-> Rs. 210 for the target of Rs. 237 – 280++
Stop Loss Rs. 192 ........
Note... Buy only if eod price close above 210.....
Do your own analysis &
Comment your views..
The RSI reading indicates that the stock is at a near term resistance and could see some downside. There have been strong significant green bars and may see some correction or possibly a reversal. A correction and profit taking can be observed around levels of 199, if it breaks down further then that could indicate reversal around 178 levels.