Jyothy Laboratories Ltd

Investors with a medium-term perspective can consider buying Jyothy Laboratories stock.

The long-term down-trend in this stock was arrested by the formation of ascending triangle price pattern spanning between mid October 2008 and early June.

This pattern paved the way for a strong uptrend since mid May. The medium-term outlook is positive for the stock as the weekly indicators are projecting bullishness. The weekly traded volume is increasing over the past three weeks.

The stock has the potential to trend up to Rs 155 in the medium-term.

Though the stock can erase some of the recent gain, medium-term investors can utilise dips to accumulate the stock while maintaining stop at Rs 84.

via BL