We recommend a buy in the stock of Excel Crop Care from a short-term horizon. It is evident from the charts of the stock that in late March, the stock found support at Rs 150 and resumed its long-term uptrend. Since then it has been on a medium-term uptrend. The stock bottomed out in June 2012 low of Rs 85 and has been on a long-term uptrend. After testing the key resistance at Rs 190 for more than three weeks, the stock emphatically broke through it by jumping 9 per cent with above average volume on Wednesday. Moreover, the stock has conclusively breached its moving average compression (21-, 50- and 200-day moving averages) at around Rs 185.

The daily relative strength index has entered the bullish zone from the neutral region and weekly RSI also has entered this bullish zone. Both daily and weekly moving average convergence divergence indictors are featuring in the positive territory implying upward momentum. The daily as well as weekly price rate of change indicators are hovering in the positive terrain implying buying interest. Our short-term outlook on the stock is bullish. We anticipate its rally to continue and reach our price target of Rs 212.5 or Rs 216.5 in the approaching trading sessions. Traders with short-term perspective can consider buying the stock with stop-loss at Rs 200 level.

( Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)