Todays Pick

Sequent Scientific (₹280.3): Buy

Yoganand D BL Research Bureau | Updated on April 26, 2021

Investors with a short-term perspective can buy the stock of Sequent Scientific at current levels. Since the stock took support at around ₹50 in March 2020, it has been in a long-term uptrend. Both the medium as well as the short-term trends are up for the stock. In mid-March this year, the stock found support at ₹225 and continued to trend upwards, resuming the medium term uptrend.

The stock trades well above the 21- and 50-day moving averages. On Monday, the stock surpassed a key hurdle at ₹270 by gaining 5.6 per cent with good volume. This rally has strengthened the short-term uptrend. There has been an increase in volume over the past three trading sessions. The daily relative strength index has entered the bullish zone recently from the neutral region and continues to feature in this zone.

The short-term outlook is bullish for the stock. It can extend the rally and reach the price targets of ₹292 and ₹298 over the short term. Traders can buy the stock with a stop-loss at ₹274.

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

Published on April 27, 2021

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