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Anand Rathi Wealth’s stock has been subdued since mid-April. It was largely oscillating within the ₹850-900 range. But on July 5, it broke out of the range. The price action – a rally followed by a consolidation and then a breakout – indicates a continuation of the uptrend. Although the stock posted a minor loss on Thursday, it is only a corrective fall. The daily chart hints at a rally, especially on Friday, to ₹930.
One can consider the stock of Anand Rathi Wealth to buy for intraday on Friday. We recommend buying this stock at the current level of ₹902. Place stop-loss at ₹888. Book profits at ₹930. In case there is a gap-up open, wait for the price to dip to ₹902 before going long.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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