Stock To Watch For Monday – TORRENT POWER LIMITED (TORRENTPOWER)
The stock has been consolidating for the past week and has finally broken out from the Flag pattern on the daily chart.The up-thrust has been accompanied by a smart uptick in traded volumes.
In addition, RSI above 70 mark indicates the current momentum is likely to get extended further. Which supports bullish sentiments ahead. We recommend traders to take long positions in the range of 306-308 levels for the targets of 312-320 with stop loss below 298 on daily closing basis.