Equitas Holdings (₹168.5)
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.)