Comments
Investors with a short-term perspective can buy the stock of VIP Industries at current levels. After registering a 52-week low at ₹187 in late March, the stock bounced up and started to consolidate in a wide range between ₹200 and ₹250 until recently.
On Wednesday, decisively breaking the upper boundary of the sideways consolidation phase at ₹250, the stock jumped 10.7 per cent . Also, the stock trades well above its 21- and 50-day moving averages.
With the ongoing rally, the short-term outlook appears to be bullish for the stock. It can trend upwards and reach the price targets of ₹275 and ₹281 in the ensuing trading sessions.
Traders with a short-term view can buy the stock with a stop-loss at ₹258.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.