Stop Loss: Rs 1,385
Target: Rs 1,625
CreditAccess is maintaining a higher high and higher low formation, indicating a strong uptrend. The stock has recently given a horizontal line breakout and successfully retested the breakout level, suggesting renewed buying interest and potential for further upside momentum. On the upside, immediate resistance is placed near Rs 1,500 and a decisive break and sustained move above this level could accelerate bullish momentum towards higher targets. On the downside, the stock is taking solid support near Rs 1,380, which aligns with the 20-day and 50-day EMAs, where accumulation and buying interest have been observed. Moreover, the stock is trading comfortably above its 200-day EMA, reaffirming long-term bullish strength.
(Hitesh Tailor, Research Analyst, Choice Broking)