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The stock of BLS International Services has been in a steady uptrend since April. It bounced off the support at ₹150 and established a rally. While there have been minor corrections, the broader bull trend has stayed intact. That said, over the past two weeks, the price action was sluggish. That is, the stock was largely oscillating between ₹276 and ₹290.
On Tuesday, the stock broke out of the hurdle at ₹290 and opened the door for further upside. Specifically, the price is likely to touch ₹305 on Thursday. Hence, traders can go long on the stock of BLS international Services at the current level of ₹292. Place stop-loss at ₹286 at first and raise it to ₹295 when the price touches ₹300. Exit at ₹305.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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