United Spirits Ltd

NSE :MCDOWELL-N   BSE :532432  Sector : Alcoholic Beverages

About Company: Diageo India incorporated in India as United Spirits Ltd.(USL) is the country’s leading beverage alcohol company and a subsidiary of global leader Diageo PLC. The company manufactures, sells, and distributes a wide portfolio of premium brands such as Johnnie Walker, Black Dog, Black & White, VAT 69, Antiquity, Signature, Royal Challenge, McDowell’s No.1, Smirnoff and Captain Morgan.

News in MCDOWELL-N Shares: United Spirits Ltd (USL) on Wednesday reported a 113% rise in its standalone net profit to Rs 273.4 crore in Q2 FY22 from Rs 128.4 crore in Q2 FY21. USL’s PAT margin stood 11.2% in the said period. 

Weekly Chart of MCDOWELL-N (United Spirits Ltd.):

Technical Outlook Of MCDOWELL-N (United Spirits Ltd.):

Stock on Wednesday 27th Oct 2021 rallied 5.81% and closed at 882.90 on NSE. Rally in the stock was seen post Q2 FY22 results announcement. Technically Stock has a strong support zone at 790-810. If we look at the chart structure it can be clearly observed that stock has re-tested previous breakout levels. Squeeze Momentum Indicator is trading in the Green zone which indicates bullishness in the stock to be continued. Also Comparative Relative Strength Indicator shows Stock has started outperforming Nifty Index.

Looking at the chart structure, we recommend traders and investors to go long on MCDOWELL-N at current market price around 880 and Add more on correction around 840 with stop loss placed below support zone at 770 expected targets in the 2-3 months are 1100- 1150.