PNN
Mumbai (Maharashtra) [India], November 8: Anand Rathi has featured Patel Retail Limited as its Pick of the Month, highlighting the company's strong technical setup and potential short-term upside. According to the report, Patel Retail has exhibited a bullish divergence on the hourly chart, where the stock price has been forming lower lows while the MACD indicator has been forming higher lows. This pattern typically indicates a slowdown in selling pressure and signals the possibility of a trend reversal.
The brokerage expects the stock to witness a rebound from current levels and has recommended a buying range of ₹210-₹215 with a target price of ₹242, reflecting an upside potential of approximately 14% over the next month. A stop-loss at ₹197.5 on a daily closing basis has been advised to manage downside risk. Sustained movement above ₹225 could further confirm the reversal trend and attract additional buying momentum.
Disclaimer: This press release is for informational purposes only and does not constitute financial advice.
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