Stock to buy for short-term: Anand Rathi sees big upside in THIS small-cap stock under ₹50
The Sindhu Trade Links share price that opened at ₹ 32.49 on the BSE on Monday was up 4% at the time of opening. The Sindhu Trade Links share price thereafter gained further to intraday highs of ₹ 33.41, which meant gains of 7% over the previous day's close. The Sindhu Trade Links share price was trading close to ₹ 32.80 levels. Thereafter, Anand Rathi Research expects more upside for the stock.
The small-cap stock under ₹ 50, Sindhu Trade Links, remains the pick of the month for Anand Rathi Investment Services.
The analyst at Anand Rathi Investment Services, Jigar Shantilal Patel, has given a target price of ₹ 36 for Sindhu Trade Links share price. The time period specified by Anand Rathi Investment Services to achieve the said target price for Sindhu Trade Links share price, though, stood at 1 month; nevertheless, Sindhu Trade Links share price already is seeing sharp gains.
As per Anand Rathi Investment Services, the technical setup indicates a bullish opportunity for Sindhu Trade Links share price.
Sindhu Trade Links, or SINDHUTRAD, has given a clean breakout above its yearly Camarilla pivot level around ₹ 29.80 and is currently sustaining above it. This breakout is technically significant, as it coincides with the VWAP higher band, offering strong support at current levels, as per Anand Rathi.
The confluence of these factors suggests bullish momentum is likely to continue. Therefore, Anand Rathi had advised going long in the ₹ 31-29 zone, with an upside target of ₹ 36. A stop-loss, however, should be placed below ₹ 27 on a daily closing basis to manage risk effectively, as per Anand Rathi.
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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