The near-term outlook is bullish for the stock of Anant Raj. The stock has surged about 10 per cent so far this week. The rise this week has begun from the psychological support level of ₹500. The 55-Day Moving Average (DMA) is also poised around this level. That strengthens the near-term bullish case. Intermediate support is in the ₹520-515 region which can limit the downside in the coming days. Anant Raj share price can rise to ₹625-630 over the next two-three weeks.
Traders can go long now at ₹566. Accumulate on dips at ₹530. Keep the stop-loss at ₹505. Trail the stop-loss up to ₹575 as soon as the stock goes up to ₹590. Move the stop-loss further up to ₹595 and ₹610 when the price touches ₹605 and ₹620 respectively. Exit the long position at ₹630.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)