Aries Agro zoomed 8 per cent on Tuesday. While surging, the stock decisively broke through the psychological resistance at ₹100. This rally provides buying opportunity to traders with a short-term perspective. The stock has been on an intermediate-term uptrend since taking support at ₹35 in November 2013. The medium-trend is also up for the stock.

Last month, the stock took support at ₹75 and continued its primary uptrend. It is hovering well above its 50- and 200-day moving averages. The indicators on the daily chart are comfortably hovering in the positive territory backing the stock’s current uptrend. With the medium-term uptrend being intact, the stock’s short-term outlook is optimistic. The stock can trend northwards and reach the price target of ₹108 and ₹110. As there could be some volatile movements, traders can buy the stock on a slight correction while placing a wide stop-loss at ₹100.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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