The stock has witnessed some erosion in recent times and has currently showed signs of bottoming out near Rs 695 levels, indicating a bounce back with a positive bullish candle pattern to improve the bias. The relative strength index (RSI) is also showing a trend reversal to signal a buy and with good volume activity, we suggest to buy and accumulate the stock for an upside target of Rs 775, keeping the stop loss of Rs 690.
The stock has been maintaining a strong support base near the 200-day moving average (DMA) level and recently it also made a reversal from Rs 260 level. It gave a decent rise to imply strength and has potential to carry on the momentum further in the coming days. It is almost on the verge of a breakout and we anticipate further upward move with positive bias. We suggest to buy and accumulate this stock for an upside target of Rs 350 - Rs 355, keeping the stop loss near Rs 278.
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Disclaimer: The author may have positions in one or all of the above mentioned stocks. Views expressed are personal
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