Claris Lifesciences (₹390.8)

Investors with a short-term perspective can consider buying the stock of Claris Lifesciences at current levels. The stock jumped 6.7 per cent with an above average volume, breaking above a key long-term resistance level of ₹365 on Thursday. This rally has strengthened the stock’s long-term uptrend that has been in place since the April 2016 low of around ₹130. Medium as well as the short-term trends are also up for the stock. It trades well above its 21 and 50-day moving averages. The daily relative strength index has entered the bullish zone from the neutral region. The weekly RSI continue to feature in the bullish zone.

Both the daily and weekly price rate of change indicators are hovering in the positive territory implying buying interest. There has been an increase in daily volume over the past two trading sessions. The short-term outlook is bullish for the stock. It can extend the uptrend and reach the price targets of ₹407 and ₹415 in the upcoming trading sessions.

Traders with a short-term view can buy the stock with a stop-loss at ₹382.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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