BUY PVR ABOVE 1360 TGT 1380/1400 SL 1330
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Market summary 24 APRIL
2018: choppy
trade on Monday on steady buying in realty, healthcare, consumer durables and
IT sectors. TCS
saw heavy buying, before finally ending at 34,408, showing a gain 0.2%. This is
its highest closing .IndusInd Bank, TCS, Infosys, Yes Bank, M&M, Adani
Ports, Sun Pharma, Bharti Airtel, and Wipro, were major gainers, while the
shares of ITC, NTPC, Hero MotoCorp, ICICI Bank traded lower. Among
sectoral indices, realty, healthcare, IT and TECk remained investors'
favourite, while metal, FMCG and infrastructure succumbed to selling pressure .
PVR
Limited is engaged in the business of
film exhibition and distribution and also earns revenue from in-house
advertisement, bowling and gaming alley and restaurant business.Primary trend of the PVR
is bullish. After showing correction from the
higher level
1664, now stock is trading in short term recovery phase, it is
likely to continue the upside move in near term with the crossing of the
resistance level of 1360 as the stock is managing to sustain above the level of
1350. One may get the targets of 1380, 1400 in the stock with the stop loss of 1330.
Overall
trend of the stock is bullish. If the stock is managing to trade above its RSI
of 64 .And PVR manages to sustain above the immediate support level of 1350. as the stock is managing to trade above its 22& 55 and
200 days moving averages with the RSI of 64, 200 EMA can see as a strong support
at 1364. it is likely to experience fresh buying with the crossing of 200 EMA ,
where one may keep the targets of 1400,1420 in the stock with the stop loss of 1300.
DAILY CHART FOR PVR:
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