The stock has corrected well from the peak made near 2,445 and has shown signs of bottoming out near 2,220 level with a momentum pick up expected going-forward. The RSI has also indicated a trend reversal near the oversold zone to signal a buy and is well placed for an upward move. We suggest to buy and accumulate this stock for an upside target of 2,420-2,450, keeping the stop loss of 2,170.
BUY UNITED SPIRITS | CMP: Rs 580.70 | Target: Rs 650-670 | Stop Loss: Rs 550
The stock has recently given a decent correction from the peak of 661 and has taken support near the 200-DMA level of 568 and also has the trend-line support base. The RSI indicator is also well placed and has indicated a trend reversal to signal a buy. With the chart looking attractive, we suggest to buy and accumulate this stock for the target of 650-670, keeping the stop loss of 550.
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 "The stock of United Spirits has recently given a decent correction from the peak of 661")