Dinesh Rohira
Just Dial continued with a positive momentum throughout the week despite a volatile broader market and retraced strongly after a making sharp correction near Rs 380 levels.
Further, it made a decisive breakout from its crucial resistance coming from its 50-days moving average and witnessed a robust volume growth, indicating a momentum buildup.
On the weekly price chart, after closing with about 9 percent intraday gains, the scrip made a solid bullish candlestick pattern, signaling a positive trajectory.
The weekly RSI level at 57 coupled with positive divergence on MACD indicates a buying regime at the current level. The scrip has a support at Rs 468 levels and resistance level at Rs 682. We have a buy recommendation for Just Dial with target of Rs 575 which is currently trading at Rs 507.65.
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