Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Buy Future Consumer, target Rs 59: Dinesh Rohira

5 September, 2018 5:51 AM
103 0
Buy Future Consumer, target Rs 59: Dinesh Rohira

We have a buy recommendation for Future Consumer which is currently trading at Rs 53.75, says Dinesh Rohira of 5nance.com.

Despite a negative trajectory on an intraday basis, Future Consumer made a strong rebound on weekly basis to breach upward from its crucial resistance of Rs 50.40 levels after forming a lower base at Rs 44 zone.

It witnessed a reversal trend favoring upward trajectory managing outpace long-term moving average level of 100-50-days at 46 and 51 respectively, and also witnessed a significant volume growth above its daily average.

The weekly RSI level at 63 has shown a positive price divergence while MACD continued to indicate bullish crossover.

We have a buy recommendation for Future Consumer which is currently trading at Rs 53.75 for target of Rs 59.

Source: moneycontrol.com

Share in social networks:

Comments - 0