5paisa Capital’s stock has been on a rally since April. It bounced off the support at ₹275. Over the past few trading sessions, the stock has been stuck in a range. But the trend did not reverse. On Tuesday, the stock broke out of the upper band of the range at ₹530. Although there was not much change in price on Wednesday, the uptrend remains intact. The price action hints at a rally on Thursday, making it a good intraday buy.
Therefore, one can buy 5paisa Capital at the current level of about ₹550 and accumulate if the price dips to ₹542. Place stop-loss at ₹530. When the stock rallies past ₹560, tighten the stop-loss to ₹545. Liquidate the longs at ₹570 from where the price could drop.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)