Can I buy shares of Just Dial at present?
BUY JUST DIAL, BUT ONLY ABOVE RS 561
Just Dial is currently trading at Rs 524. Its 52-week high/low stand at Rs 619.45/Rs 318.20 made on March 17, 2017 and December 27, 2016, respectively. Considering the daily time frame, the stock had attempted a rounding bottom breakout, but it has seen resistance at those levels for the last four trading sessions. The stock saw huge volumes but witnessed a negative crossover after hitting the overbought zone. Recently, the stock has taken support at 38.2% retracement level on a closing basis. Going forward, the stock may correct some more up to Rs 490 or Rs 474 in the first place. Hence, we suggest you to enter only above Rs 561 on confirmation of the upside