Datamatics Global Services (₹134.6)
Investors with a short-term perspective can buy the stock of Datamatics Global Services at current levels. The stock has been in a medium-term uptrend since taking support at ₹93.5 in late September. Short-term trend is also up for the stock. While trending up, the stock decisively breached a key resistance as well as 200DMA at ₹115 in mid-November. Moreover, the stock has also breached a key long-term resistance at ₹130 by gaining 5.6 per cent with good volume on Thursday.
The stock trades well above its 50- and 200-DMAs. The daily relative strength index has re-entered the bullish zone from the neutral region and the weekly RSI continue to feature in the bullish zone.
The short-term outlook is bullish for Datamatics. It can continue to trend upwards and knock the price targets of ₹140 and ₹143 in the approaching trading sessions. Buy the stock with a stop-loss at ₹131.5.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)