Datamatics Global Services (₹134.6)

Investors with a short-term perspective can buy the stock of Datamatics Global Services at current levels. The stock has been in a medium-term uptrend since taking support at ₹93.5 in late September this year. Short-term trend is also up for the stock. While trending up, the stock decisively breached a key resistance as well as 200-day moving average at ₹115 in mid-November. Moreover, the stock has also breached a key long-term resistance at ₹130 by gaining 5.6 per cent with good volume on Thursday.

The stock trades well above its 50- and 200-day moving averages. The daily relative strength index has re-entered the bullish zone from the neutral region and the weekly RSI continue to feature in the bullish zone. Both the daily and weekly price rate of change indicators feature in the positive territory implying buying interest.

The short-term outlook is bullish for Datamatics Global Services. It can continue to trend upwards and knock the price targets of ₹140 and ₹143 in the approaching trading sessions. Buy the stock with a stop-loss at ₹131.5.

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

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