Buy Firstsource Solutions, target Rs 60: Rajesh Palviya
ETMarkets.com|
Feb 27, 2018, 08.05 AM IST
Rajesh Palviya of Axis Securities has a buy call on Firstsource Solutions with a target price of Rs 60.
The current market price of Firstsource Solutions is Rs 51.30.
Time period given by the analyst is one month when Firstsource Solutions price can reach defined target.
Rajesh Palviya recommended to keep stop loss at Rs 45.
The most prominent observation on the weekly price chart of Firstsource Solutions Limited (FSL) has given the trend line breakout which it was following from February 2017.
The breakout was witnessed at 47.50 on 22nd February 2018 and stock remained above the same level on the following day. On the volumes front, the stock has witnessed significant rise around breakout level indicating increased participation on the rally.
Both weekly & monthly strength indicator RSI along with the momentum indicator Stochastic are in bullish territory and sustaining above their reference lines which signals strength and upward momentum in price.
The strong indicators supported by increasing volumes indicate the upside in the stock to 55-60.
The current market price of Firstsource Solutions is Rs 51.30.
Time period given by the analyst is one month when Firstsource Solutions price can reach defined target.
Rajesh Palviya recommended to keep stop loss at Rs 45.
The most prominent observation on the weekly price chart of Firstsource Solutions Limited (FSL) has given the trend line breakout which it was following from February 2017.
The breakout was witnessed at 47.50 on 22nd February 2018 and stock remained above the same level on the following day. On the volumes front, the stock has witnessed significant rise around breakout level indicating increased participation on the rally.
Both weekly & monthly strength indicator RSI along with the momentum indicator Stochastic are in bullish territory and sustaining above their reference lines which signals strength and upward momentum in price.
The strong indicators supported by increasing volumes indicate the upside in the stock to 55-60.
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