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PNC Infratech shares can be bought at current levels. The short-term outlook is bullish as it surged about 5 per cent on Thursday breaking above the key resistance of ₹300-303 level confirming the inverted head and shoulder pattern on the daily chart. The neckline support is around ₹303 and the downside could be limited to ₹303 and a fall below it is less likely.
The stock can rise to ₹340-350 over the next three-four weeks. Traders with a short-term perspective can buy the PNC Infratech shares and accumulate further on dips at ₹304. Keep the stop-loss at ₹292. Trail the stop-loss up to ₹311 as soon as the stock moves up to ₹318. Move the stop-loss further up to ₹323 when it touches ₹330. Exit the long positions at ₹340.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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