Stop Loss: Rs 1,340
Target: Rs 1,575
CreditAccess is displaying strong bullish signals and the stock has been forming a higher-high and higher-low structure, reflecting sustained upward momentum. It recently broke out above a prior swing high, indicating a technically robust base and steady accumulation. A decisive close above Rs 1,472 could serve as a catalyst for the next leg of the rally toward Rs 1,575.
Momentum indicators further support the bullish view, with the RSI at 67.43 trending higher, reflecting improving momentum, though edging closer to overbought territory. Traders may consider a buy-on-dips strategy near Rs 1,416, with a positional stop-loss at Rs 1,340. Upon confirmation of a breakout above Rs 1,472, the stock could move toward Rs 1,575 and beyond, offering a favorable risk-reward opportunity for positional trades.
(Amruta Shinde, Research Analyst, Choice Broking)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
