|Buy Range||80 – 85|
|Target||95 – 100|
|Duration||45 – 50 Trading Sessions|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|82.4||BUY||80 – 85||95 – 100||79||45 – 50 Trading Sessions||15 – 21%|
# CMP on Feb 18, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 89.
^ The returns are calculated based on CMP#
Redington India Ltd. incorporated in 1961, operating in Information Technology, supply chain and management services. The company also sells IT distribution products, which include computers and networking, printing, software, cloud and data storage solutions, security solutions and servers. The company supports servicing warranty through its 100 own services and 280 franchise service centres. In Q3FY19, Net profit jumped by 14% year-on-year to Rs 145 crores.
TECHNICAL OBSERVATIONS (WEEKLY)
- Recent Weekly trendline breakout since 2018, indicates positive sign.
- Weekly closing is above 10 Weeks Exponential Moving Average.
- Last week volumes were above its 10 week average, indicating strength in the uptrend.
TECHNICAL OBSERVATIONS (DAILY)
- Daily closing is above the upper Bollinger Band (15,2).
- ADX(14) is 38.5 and +DI is above 25 moving upwards.
- A daily momentum indicator RSI reading is at 63.11, which points out a positive breath in the stock.