Investors with a short-term perspective can buy the small-cap stock, Astra Microwave Products at current levels. Following a medium-term downtrend, the stock found support at ₹70.5 in late August this year. Also, the stock had registered a 52-week low at this level and changed direction. Since then, the stock has been in a sideways consolidation phase in a wide range between ₹70.5 and ₹85. Last week, the stock took support at ₹75 and began to move upwards.

On Monday, the stock jumped 6 per cent accompanied by above average volume, decisively breaching the 21- and 50-day moving averages. There has been an increase in daily volume over the past one week. The daily relative strength index is on the brink of entering the bullish zone from the neutral region and the weekly RSI is hovering in the neutral region.

Interestingly, both the daily and the weekly price rate of change indicators have entered the positive territory implying buying interest. The stock has the potential to continue to trend upwards and reach the price targets of ₹84 and ₹86 in the ensuing trading sessions. Traders can buy the stock with a stop-loss at ₹77.5.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)