The stock of Datamatics Global Services hit a record high of ₹699 on Tuesday before closing the session at ₹676.3. The scrip has been in a steady uptrend since May when it started to rally on the back of the support at ₹300. The price rising by over two times is an indication of a strong bull trend.
Given the current momentum, we anticipate more on the upside. At least, the stock will most likely touch ₹700 on Wednesday, making it a good intraday buy. So, we recommend buying shares of Datamatics Global Services at the current level of ₹676. Place stop-loss at ₹660. Book profits at ₹700. If the stock opens with a gap-up, wait for the price to soften to ₹676 before going long. Do not trade if it opens below ₹660.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)