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E.I.D. – Parry stock has been gaining momentum recently, with a surge of over 8% on Wednesday despite a decline in benchmark indices. This rise has pushed the stock above an intermediate resistance level of ₹667, which now acts as a strong support level, limiting the downside. Analysts suggest that fresh buyers might enter the market at lower levels, indicating a potential rise in the short-term. Traders are advised to go long at ₹686 and accumulate on dips at ₹672. Additionally, a stop-loss at ₹654 is recommended initially, which can be trailed up to ₹692 and further up to ₹715 as the price rises. It is advised to exit long positions at ₹745. This analysis is based on technical indicators, and traders should be aware of the associated risks.
