Today's Pick

MT Educare (₹108.6)

Yoganand D BL Research Bureau | Updated on June 05, 2014 Published on June 05, 2014

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MT Educare has been on a medium-term uptrend since taking support at ₹75 in early March. The short-term trend is also up. Investors with a short-term perspective can buy the stock at current levels. On Thursday, the stock emphatically broke through a key resistance at ₹103 gaining 6 per cent. There has been an increase in volumes over the past four trading sessions.

The daily relative strength index bounced up from the 60 level and is featuring in the bullish zone. The weekly RSI is also featuring in the bullish zone backing the uptrend. Moreover, daily as well as weekly moving average convergence divergence indicator is hovering in the positive territory implying upward momentum. The short-term outlook is bullish. The stock can continue to trend northwards and reach the price target of ₹113 and then ₹115.5 in the approaching trading sessions. Buy the stock while maintaining a stop-loss at ₹106.

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

Published on June 05, 2014
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