Technical View : Buy One 97 Communications Ltd for Target Rs. 1388 - 1,442 by Systematix
One 97 Communications Ltd
BUY One 97 Communications Ltd (PAYTM) in cash @ Rs 1,334-Rs 1,330 SL Rs 1,280 TGT 1) Rs 1388 2) Rs 1,442
* On the daily chart, the stock has formed a strong bullish candlestick resembling a closing-body marubozu candle indicating firm control by buyers. The price has delivered a decisive breakout above the Rs 1,325 zone, supported by robust volume and convincing price action, reinforcing the strength of the on-going uptrend. Consistent support at the 20 simple DMA near Rs 1306 highlights sustained demand at lower levels, while the unfilled gap between Rs 1,284.90 to Rs 1,292.70 acts as a strong demand zone that further cushions downside risk. The higher-top, higher-bottom structure strengthens the positive sentiment, signalling continuation of upward momentum.
* As long as the stock holds above Rs 1,280, Paytm maintains a bullish outlook with potential to move toward the target of Rs 1,388 initially, followed by Rs 1,442.
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