Capital First on a daily chart stock price i.e. 427, is trading above 20 DMA, 50DMA, & 100 DMA indicate price has a support level, ongoiong bullish rally will continue into the market. Moemnetum oscillator RSI & MACD is movoing northward, RSI have more room left on upside, which add more bullishess for the stock price
Observation : Capital First saw a sharp upmove in last month from Rs363 to Rs425. Post that, it witnessed sideways consolidation between Rs424 and Rs405. Recent consolidation took shape of a flag. Flags are considered to be a continuation pattern in nature; we expect the stock to replicate the momentum it had in early December after giving flag breakout in Tuesday’s trade.
Looking towards chart study, stock price will extend its rally towards 462, further 485 levels. On the flip side 380 will act as a immediate support level.
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