Technical Analysis

Radico Khaitan (₹311.4): Buy

Yoganand D BL Research Bureau | Updated on June 26, 2019 Published on June 27, 2019

Investors with a short-term perspective can buy the stock of Radico Khaitan at current levels. The stock jumped 6 per cent with above average volume on Wednesday, breaking above a key resistance level of ₹300.

Following a short-term downtrend, the stock registered a 52-week low at ₹260 on June 20 and began to trend upwards as the daily relative strength index had slipped into deep oversold territory. Moreover, the daily price rate of change indicator had displayed positive divergence backing the trend reversal.

The stock has been trending upwards for the past one week. There has been an increase in daily volume. The daily RSI has entered the neutral region from the bearish zone and the weekly RSI also entered the neutral region from the bearish zone supporting the bullish momentum. Besides, the daily price rate of change indicator has entered the positive terrain indicating buying interest.

Overall the short-term outlook is bullish and the stock potential to trend upwards. Targets are ₹324 and ₹330. Traders can buy with a stop-loss at ₹304.5.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.

  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.

  • Ad free experience

    Experience cleaner site with zero ads and faster load times.

  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor