Equitas Hold­ings (₹168.5)

The Hindu Business Line - - FRONT PAGE - YOGANAND D

In­vestors with a short-term per­spec­tive can buy the stock of Equitas Hold­ings at cur­rent lev­els. The stock gained bullish mo­men­tum and surged 5.6 per cent with above-av­er­age vol­ume breach­ing the in­ter­me­di­ate-term down­trend-line on Wed­nes­day. More­over, the stock has em­phat­i­cally breached its mov­ing av­er­age com­pres­sion (21-, 50- and 200DMAs) at ₹160, which is bullish from a short-term per­spec­tive.

The daily rel­a­tive strength in­dex has en­tered the bullish zone from the neu­tral re­gion and the weekly RSI is mov­ing higher in the neu­tral re­gion. Both the daily and weekly price rate of change in­di­ca­tors are fea­tur­ing in the pos­i­tive territory im­ply­ing buy­ing in­ter­est.

The short-term out­look is bullish for the stock. It has the po­ten­tial to breach the im­me­di­ate re­sis­tance at ₹170 and ex­tend its up­move to reach the price tar­gets of ₹175.5 and ₹179 in the short term. Traders can buy the stock with stop-loss at ₹164.5.

(Note: The rec­om­men­da­tions are based on tech­ni­cal anal­y­sis. There is a risk of loss in trad­ing.)

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