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The short-term outlook is bullish for Firstsource Solutions. The stock has begun the week on positive note by rising over 4 per cent. This rise indicates that the up move could be gaining momentum. Moving average cross over on the daily chart also strengthens the bullish case. Strong support is now in the ₹206-203 region which can limit the downside. Intermediate dips below ₹210 will see fresh buyers coming into the market around ₹206.
Firstsource Solutions share price can rise to ₹235-₹240 in the coming weeks. Traders can go long now at ₹214. Accumulate on dips at ₹208. Keep the stop-loss at ₹198. Trail the stop-loss up to ₹220 as soon as the stock moves up to ₹224. Move the stop-loss further up to ₹227 when the price touches ₹231. Exit the long positions at ₹235.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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