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The stock price of Data Patterns (India) could be gearing up for a fresh rally. The price action since the last week of October indicates a strong base formation above ₹1,800. The 200-Day Moving Average also poised around ₹1,800 makes it a strong support level. Resistance is in the ₹2,050-2,100 region. However, the chances are looking high to break above ₹2,100 in a week or two.
Such a break can take Data Patterns (India) share price up to ₹2,300-2,350 over the next four-six weeks. Short-term traders can buy Data Patterns (India) at current levels. Accumulate on dips at ₹1,920. Keep a stop-loss at ₹1,780. Trail the stop-loss up to ₹2,040 as soon as the price moves up to ₹2,090. Move the stop-loss further up to ₹2,180 when the price touches ₹2,230 Exit the stock at ₹2,300.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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