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On Monday, the stock of Claris Lifesciences zoomed more than 12 per cent to record an intraday high at ₹187.7 levels. But, subsequently, it gave up some of its gains and managed to closehigher by 5.5 per cent for the day. This rally has decisively surpassed the stock’s 200-day moving average. Investors with a short-term perspective can buy the stock at current levels.
The significant long-term support pegged at ₹165 arrested the stock’s recent corrective decline during late October and provided a base. As long as the stock trades above this support level, the medium-term uptrend will stay in place. With the stock’s recent upmove, it appears to have resumed its medium-term uptrend. The weekly RSI is moving towards the bullish zone. The daily price rate of change indicators is featuring in the positive terrain implying buying interest. Outlook is bullish. The stock can trend northwards and reach ₹183.5 and ₹187 in the short term. Buy with a stop-loss at ₹172.5 levels
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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