The short-term outlook for the stock of Equitas Holdings is bullish. The stock has been moving up well over the last week. It has also seen a sustained break above the key resistance at ₹110. This level will now act as a strong support.
Intermediate dips to this support are likely to see fresh buyers in the market. The downside can be limited to ₹110. Equitas Holdings has the potential to rally towards ₹130 over the next two-three weeks. Traders can go long now.
Accumulate on dips at ₹112. Stop-loss can be kept at ₹108 initially. Trail the stop-loss up to ₹119 as soon as the stock moves up to ₹123. Move the stop-loss further up to ₹122 when Equitas Holdings touches ₹126. Book profits at ₹128.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)