Midcap Medallion : Buy Firstsource Solutions Ltd For Target Rs .159 - Religare Broking
Firstsource Solutions Ltd.
* FSL had witnessed a vertical rise from March 2020 low i.e. 18.55 and scaled to a new record high i.e. 231.34 in July 2021.
* It retraced gradually after that strong rally and consolidated in a tight range of 95-120 levels for a year while holding firmly above the support zone of long term moving average i.e. 200 EMA on the weekly chart.
* It ended that consolidation phase in May 2023 with a breakout. After the initial surge, it retraced marginally while trading in a flag formation and finally resumed the trend today. We thus recommend creating fresh longs in the mentioned range.
Buy Firstsource Solutions Ltd. CMP 140; Range140-142; SL 105; Target 159
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