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Buy Bhansali Engineering: Dinesh Rohira

19 September, 2018 7:44 AM
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Buy Bhansali Engineering: Dinesh Rohira

The momentum indicator outlined a positive trend with weekly RSI inching at 58 levels. Further, in the coming session MACD is also likely to make a bullish crossover to trade above Signal-Line, says Dinesh Rohira of 5nance.com.

Bhansali Engineering witnessed a sharp correction in the last six-month from a price band of Rs 217-160 towards Rs 125-120 levels, taking a strong support at Rs 111 levels.

Although it witnessed a periodic correction on a closing basis, the scrip recently witnessed an upward trajectory after bottoming out at Rs 120 levels and thus indicating a decisive buying trend at current levels.

The momentum indicator outlined a positive trend with weekly RSI inching at 58 levels. Further, in the coming session MACD is also likely to make a bullish crossover to trade above Signal-Line. We have a buy recommendation for Bhansalli Engineering which is currently trading at Rs 136.65.

Source: moneycontrol.com

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