The stock of Aptech rose 4.7 per cent with above average volume on Tuesday, breaching its 21-DMA.
Since taking support at around ₹141 in late December, the stock has been on a short-term uptrend. The recent rally has also reinforced the short- as well as medium-term uptrend. The daily relative strength index has entered the bullish zone from the neutral region whereas the weekly RSI continues to feature in the bullish zone.
The stock trades well above its 21- and 50-DMAs. However, it currently hovers around the key resistance at ₹197 which it has been testing since mid-January 2017. The short-term outlook is positively biased. The stock can breach the current resistance and trend upwards to reach the price targets of ₹205 and ₹210 in the ensuing trading sessions.
Traders with a short-term perspective and high-risk appetite can buy the stock with a stop-loss at ₹193.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)