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The short-term outlook for the stock of PCBL is bullish. It has been moving up over the last few days inspite of the weakness in the broader markets. Immediate support is at ₹130. Below ₹125-₹123 is the next strong support zone. The chances are high for PCBL to sustain above ₹130 itself.
There is room for a rise to ₹160 in the next three-four weeks. Traders with a short-term perspective can go long now and accumulate on dips at ₹131 and also at ₹128 if a fall below ₹130 is seen. Keep the stop-loss at ₹119. Trail the stop-loss up to ₹138, the stock moves up to ₹143. Move the stop-loss further up to ₹148 when the stock touches ₹154 on the upside. Book profits at ₹158.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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