"The scrip has a support at Rs 468 levels and resistance level at Rs 682. We have a buy recommendation for Just Dial with target of Rs 575 which is currently trading at Rs 507.65," says Dinesh Rohira of 5nance.com.
Just Dial continued with a positive momentum throughout the week despite a volatile broader market and retraced strongly after a making sharp correction near Rs 380 levels.
Further, it made a decisive breakout from its crucial resistance coming from its 50-days moving average and witnessed a robust volume growth, indicating a momentum buildup.
On the weekly price chart, after closing with about 9 percent intraday gains, the scrip made a solid bullish candlestick pattern, signaling a positive trajectory.
The weekly RSI level at 57 coupled with positive divergence on MACD indicates a buying regime at the current level. The scrip has a support at Rs 468 levels and resistance level at Rs 682. We have a buy recommendation for Just Dial with target of Rs 575 which is currently trading at Rs 507.65.Disclaimer: The author is Founder & CEO, 5nance.com. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.