Comments
Investors with high risk appetite can consider buying the stock of MT Educare at current levels. Since taking support at ₹74 in early March, the stock has been on an intermediate-term uptrend. The short-term trend is also up for the stock. On Tuesday, the stock jumped 5 per cent with good volumes forming a bullish engulfing candlestick pattern at a key support level at ₹130. This support also coincides with the intermediate-term uptrend-line which is intact. The stock is likely to breach its 21- and 50-day moving averages.
Both daily and weekly moving average convergence divergence indicators are hovering in the positive territory backing the uptrend. Our short-term forecast is bullish. The stock can continue its rally and reach the price target of ₹144 and ₹148 in the ensuing trading sessions. Buy the stock with a stop-loss at ₹136.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.