Despite extreme volatility in the broader market, the stock has managed to hold on the support of its short-term moving averages. On Wednesday, the stock closed above stiff resistance zone around Rs350-354.
Moreover, volumes have also picked up substantially as the stock breached the crucial resistance levels. The MACD and RSI (momentum indicators) are above neutral levels and are exhibiting the positive trend to continue.
It presents an opportunity for the traders to capitalize on the uptrend. We recommend traders to BUY the stock between the levels of Rs352-357 for target of Rs375 with a stop loss of Rs345.
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