Data­mat­ics Global Ser­vices (₹134.6)

The Hindu Business Line - - MARKET WATCH - YOGANAND D

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.)

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