|Sell Range||488 – 477|
|Target||444 – 433|
|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#
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.
|Sectoral Index||NIFTY 500|
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.