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Investors with a short-term perspective can consider buying the stock of Atlanta at current levels. The stock jumped 5.6 per cent on Tuesday with above average volume, breaking above a key resistance at around ₹70. Moreover, the stock has been on a short-term upmove since taking support at around ₹54 in late November and appears to have resumed its uptrend. Both the long- and medium-term trends are up for the stock. Following a corrective decline in late October and November, the stock found support in the band between ₹54 and ₹56 in late November. The daily price rate of change and moving average convergence divergence are featuring in the positive territory backing the uptrend. The short-term outlook is bullish for the stock. It can continue to move up and reach the price target of ₹78.5 and ₹80 in the coming trading sessions. Buy the stock with stop-loss at ₹73.8.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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