PL Technical Research: Buy ZENSAR TECH - Medium Term Tech Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY ZENSAR TECH CMP: 514 TRGT: 572 SL: 490 - MEDIUM TERM TECH PICK - The stock has indicated a higher bottom formation pattern on the daily chart with a Cup & Handle pattern also visible in the longer-term time frame with currently improving the bias moving past the significant 50EMA level of 504 zone anticipating for further rise. The RSI has indicated a trend reversal from the oversold zone and currently is well placed indicating strength to carry on with the momentum still further ahead from current levels. With the chart looking good, we suggest to buy and accumulate the stock for an upside target of 572 keeping the stop loss of 490.