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The near-term outlook is bullish for FDC. The share price has surged over 7 per cent in the last couple of days. This rise has taken the stock well above the key intermediate resistance level of ₹490. The region between ₹495 and ₹490 will now act as a good support zone and limit the downside in case there is dip. FDC share price can rise further to ₹525-₹530 in a week or two. If the current momentum sustains, this rise can also happen much earlier. Traders can go long now at ₹507. Accumulate on dips at ₹497. Keep the stop-loss at ₹488 initially. Trail the stop-loss up to ₹511 as soon as the stock moves up to ₹517. Move the stop-loss further up to ₹522 when the price touches ₹526. Exit the long positions at ₹530.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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