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Long-term investors can buy the shares of Zensar Technologies (₹291.60) at current level. The stock has surged about 37 per cent since the beginning of this year. Prior to this rally, the stock had formed a strong base above ₹200. The sharp rise in February indicates a trend reversal.
Near-term support is in the ₹260-₹250 region. Below that ₹200 is a very strong support. The chances are high for the stock to sustain above ₹250 itself. Immediate resistance is in the ₹320-330 region which may hold on its first test.
A corrective dip from ₹320-330 to ₹260-250 is a possibility. An eventual break above ₹330 can take Zensar Technologies share price up to ₹390-400 in the next two-three quarters. From a long-term perspective, the stock has potential to target ₹600 over the next couple of years. Investors with a long-term horizon can buy Zensar Technologies at current levels. Accumulate on dips at ₹265. Keep a stop-loss at ₹180. Move the stop-loss up to ₹320 as soon as the stock moves up to ₹420. Move the stop-loss further up to ₹480 when the stock touches ₹520 on the upside. Exit the stock at ₹580.
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