BASF India Ltd on a weekly & monthly chart stock
price is making higher highs and high lows pattern with increase in volume,
indicate positive outlook for the stock price. On a daily chart we witnessed stock
price has given the breakout of cup and handle pattern few days back at Rs.
1177, yesterday stock price has closed above the same, indicate rally will
continue towards north. Momentum oscillator MACD uptrend is intact, which add
more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 1190 for the target of Rs. 1310/1363 levels, with
Rs.1115 stop loss on closing basis.
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