Stop Loss: Rs 665
Target: Rs 750
On the daily timeframe, Avanti Feeds surged nearly 1.66%, forming a reasonable bullish candlestick in previous few sessions after undergoing a meaningful correction. The overall structure of the stock remains bullish, with a breakout above the rising channel pattern signaling the start of a fresh upward rally. From a volume perspective, the stock has witnessed higher volume participation on buying days compared to selling days, further confirming a bullish outlook. Additionally, the 20 and 50 EMA are trending upward, reflecting a sustained bullish trend.
(Drumil Vithlani, Technical Research analyst at Bonanza)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
