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The share price of Lloyds Metals and Energy has moved up sharply over the last few days. The outlook is bullish. Strong support is around ₹800. Immediate resistance is at ₹825. If this holds on its first test, a dip to ₹810-₹800 is a possibility in the next few days. However, a fall beyond ₹800 is less likely.
Fresh buyers are likely to come in around the psychological ₹800 level. Lloyds Metals & Energy share price can rise to ₹860-₹870 in the short-term. Traders can go long now at ₹820. Accumulate on dips at ₹810. Keep the stop-loss at ₹790. Trail the stop-loss up to ₹827 as soon as the stock goes up to ₹835. Move the stop-loss further up to ₹840 when the share price touches ₹853. Exit the long positions at ₹865.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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