5470-5530 is a cautious zone. For fresh Long Positions risk-reward may not be favourable at this point of time. Use stoplosses Exit if it gets triggered.

Stock View: Mukand Ltd

The stock has been consolidating between 55-72 zone since last seven months and as you can see on the charts 72-73 zone is acting as a good resistance zone for the stock. The stock has witnessed some accumulation in the last few days too as it happens before a breakout. Buy Mukand Ltd only and only if its sustains (preferably closes ) above 72.5-73 with stoploss of 68 on closing basis and look for targets of 82/85 in short term.

Have a nice trading day

Regards

Ankit