We recommend a buy in the stock of Career Point from a short-term perspective. It is apparent from the charts of the stock that following an intermediate-term downtrend from its January peak of Rs 278, the stock found support at around Rs 137 in late July 2012.

The stock took support from this base level in late August and changed its direction triggered by positive divergence in daily moving average convergence divergence indicator and weekly relative strength index. Since then, the stock has been in a medium-term uptrend. Forming a bullish engulfing candlestick pattern, the stock gained 5 per cent with above average volume on Tuesday. The stock is hovering above both of its 21- and 50-day moving averages.

The daily RSI has entered the bullish zone from the neutral region and weekly RSI is inching higher in the neutral region. The daily MACD is featuring in the positive area in line with the stock price. We are bullish on the stock from a short-term perspective. We expect its up move to continue and reach our price target of Rs 170 or Rs 173 in the forthcoming trading sessions. Traders with short-term perspective can consider buying the stock with stop-loss at Rs 159.5 levels.

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