The short-term outlook is bullish for FDC. The stock surged over 5 per cent on Wednesday and has closed on a strong note. This rise has taken the stock very well above the key intermediate resistance level of ₹400. The region between ₹402 and ₹396 will be a very strong support for now. Intermediate dips are likely to get fresh buyers in this support zone. That will aid in limiting the downside for the stock.
FDC share price can rise to ₹450-460 over the next three-four weeks. Short-term traders can buy FDC now. Accumulate on dips at ₹405. Keep a stop-loss at ₹388 initially. Trail the stop-loss up to ₹415 as soon as the stock moves up to ₹425. Move the stop-loss further up to ₹435 when the price touches ₹445. Exit the long positions at ₹455.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)