If you have seen Sunday exit poll then all polls are in favor of BJP. The market will take it positively and this is only an exit poll, not the actual result. We should have conscious. Let’s see a technical overview below.
V-Guard Industries Ltd (NS: VGUARD) is a major electrical appliances manufacturer in India and the largest in the state of Kerala with an annual turnover of ₹23.21 billion (US$340 million) in the financial year 2017-18. The company manufactures voltage stabilizers, electrical cable, electric pumps, electric motors, geysers, solar water heaters, air coolers, and UPSs.
Technical Overview of VGUARD: In the below chart, we can see the stock price is trading between two Trend Line and both are working as Support & Resistance. Chart showing us stock price has made 3 top as well as the bottom. When a price has made bottom that time volumes are less (i.e. Bull & Bear are equal). On last Friday the price has opened at 203.45 and closed at 206.80, it is almost +1.64% in a day. Also, the stock price is taking support of 200 DMA. I am expecting a rally from these levels, the reason is technical as well as market sentiments.
We can buy stock from current levels with the small stop-loss of 201 on a closing basis. Target is 215-230. All view is positional.
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Disclaimer: The contents produced here are purely for educational purpose. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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