Comments
After undergoing some corrective decline, the stock of Zydus Lifesciences resumed the uptrend in early December. On Thursday, it broke out of the resistance at ₹428 and the stock is likely to lift further on Friday, making it a good intraday buy opportunity.
While over the long-term, it will most probably rally to much higher levels. We expect it to touch ₹442 on Friday.
Therefore, traders can consider taking intraday longs with stop-loss at ₹427. Book profits when the stock hits ₹442. If the stock begins the session with a gap-up, wait for a dip to ₹432 and then buy. But if it opens with a gap-down below ₹427, refrain from trading.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
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.