Fresh buying opportunity in Heritage Foods Ltd for near term:: HDFC Sec

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 The mid cap segment has outperformed today during weak broader market and the Heritage Foods Ltd is one of mid
cap stock, which has moved up smartly.
 The attached daily timeframe chart of Heritage Foods Ltd is signaling the sideways consolidation movement in the
last couple of weeks and currently the stock price is making attempt to move above the consolidation around Rs.413-
14 levels.
 The long real bullish candle of 19th Nov has been offering strong support for the stock around Rs.380 during its
consolidation pattern, which is indicating a lack of selling enthusiasm after a sharp upmove. This is positive for the
underlying trend of the stock price.
 The daily momentum oscillator like 14 period RSI has turned up from near the important high of 60 levels. Daily RSI
has been moving within a bullish high low range of 75-40 levels and from the current reading of 67, it has a
possibility of reaching up to 75-80 levels. This expected behavior of daily RSI could mean sharp upmove in the stock
prices.
 Positive chart pattern and momentum is suggesting for fresh buying opportunity in Heritage Foods Ltd for near term.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010110