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Buy Just Dial, target Rs 458: Dinesh Rohira

7 May, 2018 7:04 AM
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After making a sharp correction from the upper band of Rs 607 levels on its daily price the, Just Dial witnessed a strong rebound in last week’s trading session with a positive momentum.

The scrip witnessed a relative breakout from its short-term moving average in the last session coupled with strong daily-volume breakouts which signal a positive trend buildup.

After closing with about 14 percent gain on an intraday basis, the scrip made a bullish reversal candlestick pattern on its daily price chart.

Further, a weekly RSI at 47 shifted upward from the previous level indicating a buying regime coupled with a positive turnover on MACD.

The scrip is facing a resistance at Rs 483 levels and support level at Rs 394 on pivot points. We have a buy recommendation for Just Dial which is currently trading at Rs 435.75 for target of Rs 458 per share.


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