Buy United Breweries, target Rs 1390: Nandish Shah

Get real time updates directly on you device, subscribe now.

Buy United Breweries, target Rs 1390: Nandish Shah

Nandish Shah

United Breweries (UBL) reversed northward after taking support near its 200-day SMA last week. It closed above its 5 and 20-day Simple moving averages. The stock price has also given a bullish downward sloping trendline breakout on the daily chart by closing above the Rs 1282 levels.

Oscillators and momentum indicators like RSI and MACD are showing strength on the daily charts. Therefore, we recommend buying UBL for the target of Rs 1,390 and keeping a stop loss below Rs 1,250.

Disclaimer: The author is a Technical & Derivatives Analyst at HDFC Securities. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2018-12-19 20:11:30

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

Get real time updates directly on you device, subscribe now.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More