Devyani analysis Buy activated

10 באפר׳

Devyani International Limited (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick service restaurants (QSR) in India. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India.
If we look at the chart:
The stock has broken out to upside. and expected to move higher high.
Reasons:

1. It has broken Falling wedge pattern to upside. (Bullish)
   
2. It has been consolidating for 8 months and now ready to move to upside. (Bullish)
   
3. RSI crossing 60 to upside means bulls are in the control of the market. (Bullish)
   
4. Price > EMA(13) and Price < EMA(200), good point to enter to bull side right now. (Bullish)
   

Verdict: Strong BUY

Plan of action:
BUY: 165
Target: 190
Stoploss: 158