Finolex Industries (FINPIPE) is a company that makes things in the capital goods sector. Recently, its stock price has dropped more than 40% from its highest point. However, it seems to have found some support above a key level called the 200-moving average on weekly charts. This could mean a bounce back is coming!
If you’re a short-term trader and okay with taking some risks, now might be a good time to think about buying the stock. Experts suggest aiming for a price target of Rs 274 in the next 1-2 months.
The stock hit a high of Rs 355 on June 7, 2024, but it hasn’t been able to stay there.
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