Meanwhile, 11% of F&O stocks saw Short buildup since last expiry and 42% on a week on week basis. The stock trading above all its key moving averages. We expect the stock to move towards Rs 1,350 and Rs 1,400 in the near term. MACD has shown signs of exhaustion at lower levels hinting at the possibility of a pull back in the near term. We expect the stock to move towards 840 and 865 in the near term.

Source: Economic Times February 25, 2024 15:50 UTC