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The share price of Sunteck Realty has been oscillating between ₹421 and ₹457 for more than two weeks now. The stock has been in a good uptrend since the last week of June. So, the recent range-bound move could just be a consolidation within this broad uptrend. As such, we can expect the stock to break above ₹457 in the coming days and resume the overall uptrend. Such a break can take Sunteck Realty’s share price up to ₹500 and even ₹520 over the next three-four weeks. Traders can go long now. Accumulate on dips at ₹435. Keep the stop-loss at ₹418. Trail the stop-loss up to ₹460 when the price moves up to ₹473. Move the stop-loss further up to ₹480 when the price touches ₹488. Exit the long positions at ₹495.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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