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The outlook is bullish for SJVN. The stock has begun the week by rising over 3 per cent has ended the sideways consolidation that was in place over the last three weeks. It also indicates that a fresh leg of up move has begun. Supports are at ₹73.50 and ₹72.80.
Fresh buyers are likely to come into the market around these levels and limit the downside. SJVN share price can rise to ₹82-₹83 over the next two-three weeks or even earlier than that. Traders can go long at current levels. Accumulate on dips at ₹74. Keep the stop-loss at ₹71.50. Trail the stop-loss up to ₹77 as soon as the stock moves up to ₹78.50. Move the stop-loss further up to ₹79 when the price touches ₹80. Exit the long positions at ₹81.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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