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The upmove in the stock of Aptus Value Housing Finance India is gaining momentum. The stock surged over 15 per cent last week, taking the share price well above the ₹350-₹355 resistance zone. This ₹355-₹350 region will now act as a good support zone. Moving average cross-overs on both the daily and weekly charts strengthens the bullish case. It indicates that the downside could be limited. Aptus Value Housing Finance India’s share price can rise to ₹385 in the next few weeks.
Traders can go long now at ₹361. Accumulate on dips at ₹356. Keep the stop-loss at ₹347 initially. Trail the stop-loss up to ₹365 as soon as the stock price goes up to ₹370. Move the stop-loss further up to ₹372 when the price touches ₹378. Exit the long positions at ₹385.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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