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Investors with a short-term horizon can buy the stock of Gateway Distriparks at current levels. The stock jumped 8 per cent accompanied by good volume on Tuesday, breaking above a key resistance at ₹145 and the 200-day moving average poised at ₹140.
Since taking support in the band between ₹99 and ₹100 in January this year, the stock has been in a medium-term uptrend. The stock had decisively breached its 21- and 50-day moving averages on Monday and hovers well above them. The short-term trend is also up for the stock.
The short-term outlook is bullish for Gateway Distriparks. The stock can continue to trend upwards and reach the price targets of ₹158.5 and ₹161.5 in the ensuing trading sessions. Traders can buy the stock with a stop-loss at ₹149.
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