Quess Corp has formed a bullish Cypher pattern on the daily chart which suggests a possibility of strong recovery in the stock price over the short term.
In addition, a bullish ‘Harami’ candlestick pattern has formed which may propel a rally in the stock. A divergence in the daily RSI also indicates positive momentum in the near future.
Traders can accumulate the stock in the range of Rs 1010-1020 for the target of Rs 1094 with a stop loss below Rs 1049.
Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. 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.
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