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United Spirits Ltd (McDowell): BUY
- The stock price as per larger time frame is showing a sharp up trended move over the last few weeks.
- The stock price has shifted into consolidation, post sharp up, move about, the later part of Oct and is currently making an attempt surge up further.
- The chart formation of the last one month is indicating a type of bullish flag type pattern, which is up trend continuation pattern. The upside breakout Rs.3200 levels could lead to sharp up move for short term.
- Weekly 14 period RSI has placed at 70 levels and is turning up after the minor dips. This pattern is signaling a strength of upside momentum.
- Overall positive chart pattern in United Spirits Ltd is showing an opportunity to create long trading positions for near term.
V-Guard Industries Ltd (VGUARD): SELL
- The weekly timeframe of V-Guard India Ltd is indicating a formation of wedge type pattern at the highs.
- The stock price showing choppy trend post sharp up move is signaling a possibility of decline from the highs.
- We observe formation of higher tops and bottoms over the last many months and current pattern is signaling a formation of a new higher top at Rs.237. As per the pattern one may expect to begin of weakness from the highs.
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