Stop Loss Rs 308
Target Rs 325
Lot Size 1000.
- We have seen Long build up in the Chola Finance Futures’ yesterday where we have seen rise in Open Interest with price rising by 3.3%.
- Stock price has broken out on the daily chart with higher volumes where it closes at highest level since 27-November.
- Stock price reversed northward by taking support at upward slopping trendline, adjoining lows of 24-July, 23-Aug and 16-October 2019.
- Stock price has formed multiple bottoms around 295 levels.
- Primary trend of the stock is bullish where stock price is trading above its 20, 50 and 200 day SMA.
Disclaimer: The author is a Technical Analyst at HDFC securities. Views expressed are his own. .