Astra Microwave Products’ stock has been in a consolidation phase since mid-June, primarily trading within the range of ₹350 to ₹385. Recent sessions witnessed multiple attempts to breach the resistance level at ₹385, with the stock finally breaking through this hurdle and closing at ₹395.8 on Thursday. This breakout signals potential appreciation, hinting at a prospective rally on Friday.
As the trading week concludes, participants seeking intraday opportunities might consider Astra Microwave Products’ stock. An advisable strategy is to initiate a long position at the current market price, approximately ₹396, accumulating more in the event of a dip to around ₹390. It’s manage risk by setting a stop-loss at ₹385. As the stock progresses and reaches ₹405, it’s prudent to adjust the stop-loss upwards to ₹397 to secure potential gains. Book profits at ₹410.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)