Comments
Investors with a short-term view perspective can consider buying the stock of Gati at current levels. The stock gained 3.7 per cent accompanied with extraordinary volume on Tuesday, decisively breaking above a key medium-term resistance at ₹145. It now trades well above its 21- and 50-day moving averages, implying that the medium-term uptrend that has been in place since late September is gaining momentum. The short-term trend is also up for the stock from December low of ₹126.
There has been an increase in daily volume over the past three trading sessions. In the last two sessions, the stock has gained 6.4 per cent. The daily as well as weekly price rate of change indicator feature in the positive territory implying buying interest. Both the daily and weekly relative strength indices have entered the bullish zone from the neutral region. Traders with a short-term perspective can buy the stock at current levels with a stop-loss at ₹145.5. Short-term targets are ₹155 and ₹158 levels.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
COMMENT NOW
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.