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NSE Scrip – MIDHANI

View –   Bullish

Last Close – Rs 495.90

MIDHANI witnessed a decisive breakout in the last trading week, soaring nearly 8 percent. The counter has witnessed very strong traction its 21 DEMA after consolidating near the 20 DEMA and seems poised to continue its northward move in the comparable period.

Additionally, the counter witnessed a sloping trendline breakout, adding a bullish quotient to its undertone. On the oscillator

front, MACD signals a continuation move, suggesting a potential upside journey for the counter. Hence, we recommend to ‘Buy’ MIDHANI around Rs 490 | SL: Rs 450 | TGT: Rs 550-580.

NIACL has seen a volume-backed breakout after the substantial consolidation seen in the last couple of trading months. The counter has gained strong traction in the last couple of trading sessions from the cluster of its major EMAs on the daily chart, construing a positive development.

As a result, it is now positioned for a gradual reversal in the near future. On the oscillator front, 14-period RSI and MACD both signal a positive crossover, suggesting a potential upside move in a comparable period. Hence, we recommend to ‘Buy’ NIACL around Rs 270-265 | SL: Rs 240 | TGT: Rs 320-330.