On daily chart, Eveready has taken suuport for 4rth time at around 17. Stock opened gap down today and closed at day's high making BULLISH ENGULFING PATTERN which indicates trend reversal from bearish trend to bullish trend in short term. Stock is still trading below all its key moving averages which may act as a immidiate resistance to its upside. However considering that stock is in downtrend since quite some time some upside should come.
Stock can be bought at CMP for short term target of 20.
Stop loss at 17 recommended.
CMP - 18.15
