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Westlife Development stock has, for more than two weeks now, been consolidating sideways above the 200-day moving average, which is currently at ₹507.80. Resistance is at ₹545. The bias is positive for an upside break above ₹545 in the coming days. Such a break can take the stock up to ₹610-₹620 over the next two to three weeks. Short-term traders can go long at current levels. Accumulate longs on dips at ₹515. Keep the stop-loss at ₹497. Trail the stop-loss up to ₹545 as soon as the stock moves to ₹560. Move the stop-loss further up to ₹570 as soon as the stock touches ₹580 on the upside. Book profits at ₹590. This bullish view will get negated only if the stock declines below the 200-DMA support.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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