Eveready Industries had a good run in 2017 till July. However, it has corrected sharply after that. Current price is close to 50% retracement of the entire run from December 2016 to July 2017. It is also near 200 EMA which might act as a support. The RSI is in deep oversold levels. I feel it is a good opportunity to buy the stock at current price with a stop loss...
The stock is heading higher , one can look for entering after a small retrace with stop 306 for Target of 340 Again this in my opinion not recommendation Regards
NSE:EVEREADY Buy Range - Rs210 to Rs230 SL - Rs200 (weekly Close) Target 1 - Rs256 Target 2 - Rs314 Potential Return - 44% Potential Loss - 8%
Everady- Buy Set up Chart Self Explanatory Comments and Suggestions appreciated.
Everready Created a double bottom and now moving up from oversold regions. Buy on any fall till 248 Target 1:- 265 Target 2:- 275 SL:- 239