Multimedia

Podcast | Today's stock pick: Atul Auto

| Updated on January 21, 2020 Published on January 21, 2020

Investors with a short-term perspective can buy the stock of Atul Auto at current levels. The stock jumped 10 per cent with extraordinary volume on Tuesday, breaching an intermediate-term downtrend-line as well as 200-day moving average. It has potential to trend upwards in the ensuing trading sessions.

The recent rally has decisively breached a key resistance at ₹250. The daily relative strength index features in the bullish zone and the weekly RSI has just entered the bullish zone from the neutral region. Both the daily as well as the weekly price rate of change indicators hover in the positive terrain implying buying interest.

The short-term outlook is bullish for Atul Auto. It can continue to trend upwards and reach the price targets of ₹295 and ₹300 in the forthcoming trading sessions. Traders with a short-term view can buy with a stop-loss at ₹274 levels.

Published on January 21, 2020