Nucleus Software Exports

Investors with a medium-term perspective can consider buying Nucleus Software Exports. The stock’s structural downtrend that commenced from Rs 600 was arrested in the support band between Rs 39 and 42. Since this low the stock has been on an intermediate-term uptrend. In May, the stock breached its 200-day moving average and is currently trading above its 50-DMA too.

We are optimistic on the stock and believe that it has the potential to rally up to Rs 175, in the medium-term term.

Investors can buy the stock with stop-loss at Rs 87. Short-term traders can buy with a target of Rs 122 and stiff stop at Rs 105.

via BL