The short-term outlook is bullish for Radico KhaitanThe stock price rose about 3 per cent on Friday when the broader markets fell. The rise on Friday has taken the share price above a key resistance level of ₹1,750. Moving average cross overs on the daily chart also strengthens the bullish case. This indicates that the downside could be limited. Immediate support will be at ₹1,750. Below that ₹1,700 is the next important support. Radico Khaitan’s share price can rise to ₹2,000 over the next two to three weeks. Traders can go long now at ₹1,768. Accumulate on dips at ₹1,730. Keep a stop-loss at ₹1,630. Trail the stop-loss up to ₹1,805 as soon as the stock moves up to ₹1,880. Move the stop-loss further up to ₹1,900 when the price touches ₹1,940. Exit the longs at ₹1,980.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)