Bullish outlook for Emami with potential for price rise to ₹645-650, buy at current levels with stop-loss at ₹555.
| Photo Credit:
Sergey_P
The short-term outlook is bullish for Emami. The price action since November last year indicates a rounding bottom pattern formation on the daily chart. This is a bullish pattern indicating that the downtrend is coming to an end. Moving average cross over on the daily chart also strengthens the bullish case. Support is in the ₹570-560 region.
Video Credit: Gurumurthy K
Fresh buyers are likely to come into the market around this support zone and limit the downside. Emami share price can rise to ₹645-650 in the coming weeks. Traders can buy Emami at current levels. Accumulate on dips at ₹575. Keep the stop-loss at ₹555 initially. Trail the stop-loss up to ₹600 as soon as the stock goes up to ₹615. Move the stop-loss further up to ₹620 when the price touches ₹630. Exit the long positions at ₹645
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Published on April 7, 2025
