We recommend taking long position in the stock near Rs 88 with a stop loss Rs 77 for upside target of Rs 108, says Shabbir Kayyumi of Narnolia Financial Advisors.
Shabbir KayyumiNarnolia Financial Advisors
PTC India has confirmed the reversal from its current downtrend. It also has given bullish breakout above 20 DMA and 50 DMA and thereafter it is consolidating above these DMA’s since last few days. Inverted head and shoulder pattern is also indicating a positive move in the coming days. So some fresh buying is expected from the current levels in the short term.
Therefore, we recommend taking long position in the stock near Rs 88 with a stop loss Rs 77. Upside target is Rs 108.