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Accompanied by above average volume, the stock of Granules India jumped 4 per cent on Wednesday. During the rally, it decisively broke a key resistance at ₹167 and exceeded the 21-DMA.
The stock trades well above its 21- and 50-DMAs.
The short-term outlook is positive for the stock and it can continue to trend upwards in the upcoming trading sessions. Targets are ₹179 and ₹182.5. Traders can buy the stock with a stop-loss at ₹168 levels.
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