Breakout and retest of Multi yr resistance zone by Emami Realty
About the company -
Emami Realty Limited is part of the Emami Group. The Company undertakes real estate projects in the residential, commercial, and retail sectors. It currently has projects under planning and development across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, and Maharashtra
Technical Analysis
Emami Realty Ltd. has broken multiyear resistance ( which has proved to be important zone) and has retested the same with good volumes.
We may expect this stock to rally after it crosses 96-100 zone. Till that time we may expect consolidation in this stock. Risk-Reward appears to be favourable in current situation.
Stock is also moving in an expanding upward moving channel, upper range current being held at 98-99. 100 being psychological level as well, we may some sharp upward movement above 100.
Keep this stock in watch for 35-45% ROI from current level in coming weeks.
Emami Realty Limited is part of the Emami Group. The Company undertakes real estate projects in the residential, commercial, and retail sectors. It currently has projects under planning and development across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, and Maharashtra
Technical Analysis
Emami Realty Ltd. has broken multiyear resistance ( which has proved to be important zone) and has retested the same with good volumes.
We may expect this stock to rally after it crosses 96-100 zone. Till that time we may expect consolidation in this stock. Risk-Reward appears to be favourable in current situation.
Stock is also moving in an expanding upward moving channel, upper range current being held at 98-99. 100 being psychological level as well, we may some sharp upward movement above 100.
Keep this stock in watch for 35-45% ROI from current level in coming weeks.