Avery India (BSE: 526556)

Short-term Market Sentiment: Bullish

From technical point of view, Avery India chart pattern looks bullish in short-term time period. Reasons are:

• Stock has been trading in a range between Rs.45 to Rs.80
• In previous trading session, price closed above EMA (20) and EMA (100) and has stayed above middle Bollinger band
• RSI (14) is 60 which indicates that strength is strong

Even though volume is not very attractive, but considering the above technical reasons, it could be a good time to buy Avery India at Rs.59 with stop-loss just below Rs.55 and first target at Rs. 70 and second target at Rs. 75 in next 8 to 9 trading sessions