Business Standard

Here's why Vinay Rajani suggests buying Chalet Hotels, UTI AMC

According to technical analyst from HDFC Securities, Chalet Hotels is trying to find support at 50 days EMA, whereas, UTI AMC has formed a bullish 'hammer' candlestick pattern on the chart.

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Vinay Rajani Mumbai
BUY | CHALET HOTELS

TARGET: Rs 335
STOP LOSS: Rs 295

The stock of CHALET HOTELS has broken out from its symmetrical triangle on the daily chart. The price breakout was accompanied by a jump in volume counter. That apart, daily MACD crossed the signal and equilibrium line on the upside. Not only this but the DMI indicator has also turned bullish on the daily charts as the stock is trying to find support at 50 days EMA. Hence, one can accumulate the stock with a target price of Rs 335 and stop loss of 295.

BUY

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First Published: May 18 2022 | 8:22 AM IST

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