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The short-term outlook is bullish for MSTC. The stock has been oscillating up and down between ₹395 and ₹442 over the last few weeks. This consolidation has been happening above a key trendline support. That leaves the bias positive. As such the chances are high for the stock to break above ₹442 in the coming days. Such a break can take MSTC share price up to ₹460 first and then to ₹490 eventually in the short-term.
The level of ₹460 is an intermediate resistance. Support is around ₹400. Traders can go long at current levels. Accumulate on dips at ₹418. Keep the stop-loss at ₹392. Trail the stop-loss up to ₹439 as soon as the stock moves up to ₹445. Move the stop-loss further up to ₹465 when the price touches ₹475. Exit the long positions at ₹485.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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