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The upmove in RailTel Corporation of India has gained momentum since last week. The stock has surged about 14 per cent in the last three trading days. This rise has taken the share price well above the key resistance level of ₹153, act as a good resistance-turned-support and limit the downside in case if any dip happens. If the current momentum sustains, RailTel Corporation of India’s share price can rise to ₹180-182 over the next two-three weeks or even earlier than that. Traders can go long now.
Accumulate at ₹155. Keep the stop-loss at ₹148. Trail the stop-loss up to ₹163 when the price moves up to ₹168. Move the stop-loss further up to ₹171 when RailTel Corporation of India share price touches ₹175. Exit the long positions at ₹178.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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