| CMP# | 621.5 |
| Idea | BUY |
| Buy Range | 617 – 625 |
| Target | 681 – 689 |
| StopLoss* | 565 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 10 – 11% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 621.5 | BUY | 617 – 625 | 681 – 689 | 565 | 20 – 25 Trading Sessions | 10 – 11% |
# CMP on Oct 10, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 651.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
United Spirits engaged in the business of manufacture, purchase and sale of alcoholic beverages which includes whisky, vodka and rum segments, and caters to various consumers through luxury, premium, prestige and popular spirits categories. The company posts a 26.07% jump in net profit at Rs 182.30 crore in Q1FY20; revenue up 9.27% against the year ago period.
| Stock Data | |
| NSE Code | MCDOWELL-N |
| Sectoral Index | Nifty 500 |
| 52W High | 676.6 |
| 52W Low | 496.8 |
| Face Value | 2 |
TECHNICAL OBSERVATIONS (WEEKLY)
- On the weekly chart, the stock has been moving upwards within a range in the last few months.
- Presently, the stock price has placed near the lower end of this range and also in the process to reach the upper bound of this trading zone.
TECHNICAL OBSERVATIONS (DAILY)
- Current closing is just above support line which was tested earlier. Based on the historical chart pattern, we may expect a price surge from here.
- It is trading above 15 days EMA of On Balance Volume, indicating the stock is ready for an up move.
CONCLUSION - United Spirits SHARE PRICE FORECAST
Based on our positional trading calls, United Spirits share price target will be 617 – 625 in the next few days.