Technical Pick – Capital First
• Capital First is finding support at 805 and resistance above 815.
•On Daily chart, Capital First is showing breakout point above 815 level.Break and sustain above 815 will see nonstop rally till 827--840++ in weeks to come.
•Capital First has been trading in a broader range of 465--839 for last one year.
•Daily 14 period RSI has turned up from near levels and is trading above 67 which indicates it the stock is turning bullish.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 827--840+++mark in coming weeks.
For positional trade, stop loss seeing below 805 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy Capital First above 815 and for the initial upside target of 827--840++ mark with stop loss below 805 on closing basis.
More will update soon!!
