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* On a daily chart, the stock is bouncing back after taking a support of around 187.40 level which is 38.2% retracement level of its previous up move from 151.05 level to 209.90 level which signals for a positive move in the counter.
* Moreover, the stock has given breakout of its upper band of Falling Wedge formation which suggests a robust upside move in the counter.
* Furthermore, the stock is sustaining above its 50 Days Exponential Moving Average which shows a positive move in the counter.
* A daily momentum indicator RSI reading is at 61.29 level with a positive crossover which points out for a positive breath in the stock.
* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.
Buy Intellect Design Arena Limited @201.50-200.00 Stop Loss 191.00 Target 222.00
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