BF Utilities Ltd. CMP - Rs 765.10
Technical Outlook & Trading Strategy:-
The share price movement of BF Utilities appears to be taking form of an Inverted Head & Shoulder pattern. An inverted Head & Shoulder is a bullish pattern as it is associated with strong price up move once the share price records a breakout from its neckline. In the case of BF Utilities the neckline is placed at the levels of Rs 773. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: Rs 800 /Rs 820.
We recommend traders to buy above Rs 773 with a stop placed below Rs 751.30 levels.
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