OUR RECOMMENDATION
| CMP# | 477.85 |
| Idea | SELL |
| Sell Range | 488 – 477 |
| Target | 444 – 433 |
| StopLoss* | 497 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 7 – 9% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 477.85 | SELL | 488 – 477 | 444 – 433 | 497 | 15 – 20 Trading Sessions | 7 – 9% |
# CMP on Feb 13, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 461.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Bharat forge limited manufactures and sells forged components in India and operates in two segments – Forgings and Projects (Capital goods) to help clients across automobiles (across commercial and passenger vehicle), oil and gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.
| Stock Data | |
| NSE Code | BHARATFORG |
| Sectoral Index | NIFTY 500 |
| 52W High | 798 |
| 52W Low | 463.55 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (DAILY)
- Lowe Tops and Lowe Bottoms at Daily Charts.
- Last few days stock is trading above the 20 days MA and recent closing above the Upper Bollinger Band showing confidence of my view.
- ADX and +DI crossing above 20 indicate buying momentum and probable further rise.
- Overall a positive chart and momentum pattern indicating an opportunity for a BUY trade. Look to Buy this stock as per the levels mentioned above.
