PL STOCK ON RADAR -- MOREPEN LAB

PL Technical Research: Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher Pvt. Ltd.

MOREPEN LAB after the short correction has bottomed out near 42 levels and currently has picked up momentum. It has also maintained a good support near 40 levels and has been consolidating for quite some time with gradual improvement in the bias, and we anticipate further upside movement in the coming days.

The RSI is also indicating a trend reversal and showing strength for further upside moves. We suggest buying and accumulating this stock for an upside target of 65 while keeping the stop loss of 40.