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Technical Stock Idea: Private Client Group
Technical Stock Idea: Private Client Group
Technical Stock Idea: Private Client Group
CMP
1235
Recommended Action
Buy between CMP & 1180
Target
1350
SL*
Time Horizon
1160
1-2 Months
Note: * Place stoploss as per daily closing basis. Recommended to stagger buying/selling. If first target achieved, then revise
stoploss to buying/selling price.
Technical Evidences
Stock price has broken out from bullish symmetrical triangle pattern on the daily chart.
Stock price has been taking support at its 200 DMA for last 1 month. Presently 200 DMA is placed at 1195.
Primary trend of the stock is bullish with higher tops and higher bottoms on the monthly chart
RSI has reached above the benchmark level of 50 on the daily chart, indicating sustainability of the up move.
MACD has been trading above its signal line and has now claimed the level above equilibrium line.
Considering the technical evidences discussed above, we advise buying the stock between CMP and 1180, for
the upside target of 1350, keeping stop loss at 1160 on closing basis.
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