We recommend a buy in the stock of Excel Crop Care from a short-term perspective. It is apparent from the charts of the stock that though its intermediate- and medium-term trend are down, its short-term trend is up. In the month of June, the stock found support at its long-term base between Rs 95 and Rs 100 and reversed direction. It was helped by prolonged positive divergence in weekly moving average convergence divergence indicator. Since then, the stock has been on a short-term uptrend. Last week, the stock conclusively breached its 21- and 50-day moving averages and is hovering well above them.

On Thursday, the stock jumped almost nine per cent accompanied by extraordinary volumes, decisively breaking through its immediate key resistance at Rs 111. With this rally, the stock's daily relative strength index has re-entered into the bullish zone from the neutral region and weekly RSI is moving higher in the neutral region. The daily MACD is climbing in line with the stock price and is featuring in the positive territory indicating upward momentum. Both daily and weekly price rate of change indicators are hovering in the positive area signalling buying interest. We are bullish on the stock from short-term point of view. We anticipate its uptrend to continue and hit our price target of Rs 120.5 or Rs 124 in the forthcoming trading sessions. Traders can buy the stock with stop-loss at Rs 113.

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