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The short-term outlook for FDC Ltd is bullish. The bounce from the low of ₹428.55 has happened from around a strong trendline as well as the 100-Day Moving Average support. This keeps the broader uptrend intact. The strong 4.1 per cent rally on Thursday indicates that the upmove has gained momentum. Support is in the ₹462-460 region. Immediate resistance is at ₹485. The stock can breach this hurdle.
Such a break can take FDC share price up to ₹515 in the coming weeks. Traders can go long now at ₹472. Accumulate on dips at ₹466. Keep the stop-loss at ₹442 initially. Trail the stop-loss up to ₹478 as soon as the stock moves up to ₹485. Move the stop-loss further up to ₹495 when the price touches ₹505. Exit the long positions at ₹515.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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