ROYAL ORCHID HOTEL - 40% RETURNS!!!BUY - ROYAL ORCHID HOTEL
CMP - Rs. 269
Target - 1: Rs. 305
Target - 2: Rs. 380
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Technicals - Bullish Symmetrical Triangle Pattern
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Royalorchidhotel
Royal Orchid: Continuation of uptrendStock has given a breakout after a consolidation into a parallel channel. Stock is likely to move up towards the 310-315 zone in the coming weeks. Buy with SL of 275 and look for the tgt of 310-15.
Royal Orchid Hotel on a multi year high... deserves a watch...The stock is on a multi-year high, closing above the level of 261 last achieved in February 2006.
Bullish candle formation on weekly chart with increasing volume and strong RS line.
On the upside, can expect target of 365 in the medium term. Might also see price retracement till the level of 204 if the momentum fails to sustain.
Strong support at 185-200.
Not a buy/sell recommendation. Do consult your financial advisor and trade with strict stop loss of 5-8%.
