Stock to Watch Monday- LINDE INDIA LIMITED

Linde India Limited has seen a major consolidation between 505 and 472 levels for the last 8 days. On the shorter-term time frame, it has formed an ascending triangle chart pattern over the two-month period and saw a breakout in April to touch a high 526.

Also, the price has taken support at its 21-days exponential moving average and holding well above it. The Relative Strength Index (RSI) have given a positive crossover. We recommend traders to take long positions in LINDEINDIAin the range of 490-492 for the targets of 505-520, keeping stop loss below 472 on closing basis.

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