Can I buy shares of D-Link at present for the short term?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - Val­sara­jan Ra­man


D-Link (In­dia) Ltd is cur­rently trad­ing at Rs 75.50. Its 52-week high/low stand at Rs 153.30/Rs 62.15 made on Jan­uary 10, 2018 and Oc­to­ber 8, 2018, re­spec­tively. The stock is con­sis­tently trad­ing in the lower top, lower bot­tom se­quence since Jan­uary 2018. Since last five months, the stock is trad­ing in a nar­row range along with low vol­umes. How­ever, re­cently, af­ter build­ing a strong base around Rs 67- Rs 70, the stock has man­aged to wit­ness a sharp pull­back. At present, the stock has reached near its re­sis­tance zone of Rs 83-Rs 86 as it is the con­flu­ence of 200day sim­ple mov­ing av­er­age and down­ward slop­ing trend­line re­sis­tance formed by join­ing swing highs since April 24, 2018 on the daily time frame. For any fur­ther up­side, the stock needs to close above the level of Rs 86. Con­sid­er­ing the above fac­tors, we rec­om­mend a Buy on D-Link only above Rs 86.

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