The counter found strong support around its 200 DMA on couple of occasions and quickly rebound. For the last few weeks it has been trading in a broader range of 35 to 45. During today's session the counter formed a strong bullish candle on a daily chart with decent surge in volumes. It also managed to capture its short term moving averages and gave a very powerful close at 43.6. Other technical indicators turning bullish it seems that the counter is on the verge of commencing its short term uptrend. Initiate Buy 43.6 SL 39 (CLS) TGT 50-55 in a medium short term.
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