Accompanied by above average volume, the stock of Granules India jumped 4 per cent on Wednesday. During the rally, it decisively broke a key resistance at ₹167 and exceeded the 21-DMA.
The stock trades well above its 21- and 50-DMAs.
The short-term outlook is positive for the stock and it can continue to trend upwards in the upcoming trading sessions. Targets are ₹179 and ₹182.5. Traders can buy the stock with a stop-loss at ₹168 levels.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.