Buy United Phosphorous for target of Rs 225: Angel

MUMBAI: Angel Broking has advised traders to buy United Phosphorous for target of Rs 225.

“On the monthly chart, we are witnessing a positive double crossover in momentum oscillators i.e. Stochastic and RSI in United Phosphorous. In addition, the volumes have picked up significantly in the last 15-18 trading sessions.

Also, the stock has managed to give a monthly close above the resistance level of Rs 176. This suggests further upside momentum. We recommend buying the stock from the current level to decline up to Rs 174 for target of Rs 225 in the coming 10-12 weeks,” the report said.