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The outlook for Campus Activewear is bullish. The stock has surged over 7 per cent in the last couple of days, indicating that the upmove has gained momentum. The 3 per cent rise on Wednesday has taken the share price well above a key resistance level of ₹290. The moving average crossover on the daily chart also strengthens the bullish case. Support will now be in the ₹292-₹289 region which can limit the downside.
Campus Activewear’s share price can rise to ₹320 in the coming weeks. Traders can go long now at ₹300. Accumulate on dips at ₹294. Keep the stop-loss at ₹286. Trail the stop-loss up to ₹306 as soon as the stock moves up to ₹311. Move the stop-loss further up to ₹313 when the price touches ₹317. Exit the longs at ₹320.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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