Vaishali Parekh is bullish on this Jhunjhunwala-owned stock; check why

The stock of Rallis India has picked up momentum with improved bias and positive bullish candle to move past the significant cluster of 200DMA and 50EMA levels

BUY RALLIS | CMP: Rs 309 | TARGET: Rs 340-350 | STOP LOSS: Rs 290

This Rakesh Jhunjhunwala-owned stock has recently bottomed out near 280 levels after the decent correction witnessed and has, currently, picked up momentum with improved bias and positive bullish candle to move past the significant cluster of 200DMA and 50EMA levels of 293 to indicate strength. The RSI has also indicated strength and has potential for further upward rise in the coming days. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of Rs 340-350, keeping the stop loss