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The upmove in the stock of Sunteck Realty is gaining momentum. The stock had surged 8 per on Thursday. This has turned the short-term outlook bullish. Support for the stock is now in the ₹460-455 region. The 21-day moving average (MA) is just turning around from just above the 100-Day MA.
This is a bullish signal. It indicates that the downside could be limited. So, a fall below ₹455 could be less likely. Sunteck Realty share price can rise to ₹520-525 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹460. Keep the stop-loss at ₹435. Trail the stop-loss up to ₹480 as soon as the stock moves up to ₹490. Move the stop-loss further up to ₹495 when the price touches ₹505. Exit the long positions at ₹520.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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