REDINGTON | Short term pick - 50% upside potential - Previous swing high is now support - Hopefully it will complete the W pattern in few months.
CMP : 130
SL : 110
Target : 195-200
Consider taking only 5% of the capital and relax, the stock is not good for speculation or frequent entry and exit.
Redington India ltd. is Trying to Breakout from a falling trendline, a close above Trendline on Monthly Closing basis will be a Breakout and Longs can be initiated once the Stocks Shows retrracement to Retest the Trendline. buy and Hold as Per Levels given on Chart !!
Buy Long for Redington India ltd from the current price to the target of Rs 141 , as there is an upwards rising channel and there is clear cut break out of inverse head and shoulder pattern including the break out of the inverse right shoulder . Also as per fibonacci retracement the target it is showing is upto Rs 141 . on a daliy Chart pattern.
Short/Mid Investment Pick: 40% to 80% in 3-6 months. This script looks great on technical as well as fundamental analysis. Price making HHLL and moving in ascending triangle pattern. Shortly can see a breakout. Entry could be around or above 118-120. SL up to 105-100 and we can see 150/200+ on cards. Great intrinsic value, FII's invested, PE 8.74 vs 20.21 PE of...