We recommend buying the stock at CMP for the target of Rs 280, keeping stop loss at Rs 225 on closing basis, says Vinay Rajani of HDFC Securities.
In Delta Corp downward sloping trend line breakout is seen on the weekly charts. Breakout from the consolidation was also seen, which held for last many weeks. Volumes have been gradually improving along with the price rise. Bullish Moving average and Oscillators setup on the daily charts indicates the strength in the uptrend.
Considering the technical evidences discussed above, we recommend buying the stock at CMP for the target of Rs 280, keeping stop loss at Rs 225 on closing basis.
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