Scrip in focus: Bartronics India
|
We recommend a buy on Bartronics India stock from a short-term trading perspective. It is evident from the charts of Bartronics that it has been on an intermediate-term up-trend since the March low of Rs 61, forming higher peaks and higher troughs.
Also see | |||||
|
The stock's up-trend accelerated in mid-May penetrating its 200-day moving average. On June 2, the stock jumped 19 per cent with heavy volume, breaking through a significant resistance at Rs 140. However, following a minor pull back to Rs 150, the stock took support. Reinforcing the up-trend, the stock surged 6 per cent on June 9.
Daily and weekly relative strength indices are featuring in the bullish zone. The weekly moving average convergence and divergence indicator have entered the positive territory. We are positive on the stock from a short-term horizon.
We anticipate it to rally further until it hits our price target of Rs 175 in the forthcoming trading sessions. Traders with short-term trading perspective can buy the stock while maintaining a stop-loss at Rs 151.
- Petrol carmakers announce up to Rs 50000 in discounts Read 366 Times
- Nude maid service raising eyebrows in Texas city Read 315 Times
- A Chennai restaurant's unique Saturday night dinner Read 271 Times
- Congress slams Trinamool over petrol price hike protest Read 143 Times
- Air India flies out stranded British Airways passengers Read 119 Times
