Aban has been in an uptrend for the past four trading sessions. On Tuesday, the stock did manage to close above its near term moving averages for a second day indicting strength in the stock. The upswing is also accompanied by healthy volumes. We therefore expect the stock to rally to the levels of Rs1,290-1,310. The daily RSI is already in strong buy mode. Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock between the range of Rs1,210-1,230 with a stop loss of Rs1,190 for an initial target of Rs1,290 and 1,310.
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