Nandish Shah HDFC Securities
After forming multiple bottoms around Rs 340 odd levels, the Nucleus Software price reversed northwards during the last few days to close above its 5-day moving averages.
The momentum indicators and Oscillators are indicating strength in the stock for the short to medium term. After a sharp rally in the large-cap technology stocks, we believe that the bullishness can spillover to the mid-cap technology stocks.
Therefore, we recommend buying Nucleus Software for the upside target of Rs 420 and keeping a stop loss at Rs 360.
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