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The short-term outlook for CRISIL is bullish. The stock rose by 3 per cent on Thursday. Also, the 8 per cent surge this week has taken the share price well above a key resistance level of ₹4,865. It also marks a breakout of a channel which strengthens the bullish case. The region between ₹4,880 and ₹4,850 will be a good support zone now which can limit the downside going forward.
CRISIL share price can rise to ₹5,350 in a week or two. Traders can go long now at ₹5,077. Accumulate on dips at ₹4,920. Keep the stop-loss at ₹4,840 initially. Trail the stop-loss up to ₹5,110 as soon as the stock goes up to ₹5,170. Move the stop-loss further up to ₹5,220 when the price touches ₹5,270. Exit the long positions at ₹5,320.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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