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The short-term outlook for the stock of Avanti Feeds is bullish. A strong 4 per cent rise on Monday has taken the stock decisively above the 200-Day Moving Average (DMA), at ₹495. The region between ₹500 and ₹495 will be a good support zone and a dip below this is likely to bring fresh buyers. The stock can rise to ₹560 over the next couple of weeks and even ₹590 and ₹600 in the next three-four weeks.
Traders with a short-term perspective can go long at the current levels and accumulate on dips at ₹503. Trail the stop-loss up to ₹518 as soon as the stock moves up to ₹525. Move the stop-loss further up to ₹535 when the stock touches ₹548 on the upside and book profits at ₹560.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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