Target Price: Rs 205
Stop Loss: Rs 165
CUB, after a throwback, has resumed its upward movement, closing above the 2-week high with increasing volume, indicating growing buyer interest. The stock has taken support at the 21 EMA and moved upward, suggesting that the 21 EMA is likely to act as a strong support level in the coming days.
Additionally, the Fisher Indicator has given a crossover at lower levels, further supporting the upward direction. The RSI, after a brief cool down, has started moving upward again, aligning with the bullish price action. Based on this technical setup, a long position can be considered in CUB with a stop-loss at 165 and an upward target of 200.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza)
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