Finolex shares have given a Cup & Handle breakout on the monthly charts and can be bought at above Rs 275 by aggressive traders for a target of Rs 325, and a stop loss can be placed below Rs 229.
Finolex Industries stock hit a 52-week high of Rs 259 on 4th September 2023, but failed to hold on to the momentum. It bounced back after taking support above the 50-DMA on the daily charts last week. In terms of price action, the stock is trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts.