QUESS CORP LTD: Good for Long term 1 to 2 years CMP: 500.05This stock is currently trading almost 48% less than it previous high of 963.40 it reached on 17th Sep 2021. From this level it a low of 337.55 on 28th March 2023.
The Stock found strong support at these levels which happens to be the Monthly Institutional Buy zone. On 29th March 2023over 10.39 million shares were traded compared to a 30day average volume of around 556k shares. Clearly indicating value buying.
The stock has since moved in a Cup & Handle pattern and also broke out of the falling trendline and further consolidating in the 400/- to 450/- levels.
It broke out of the resistance level of 458 - 460/- range touching a high of 527.30 on 23rd Nov 2023 which was also its first Target price.
All major Indicators including MACD, RSI, Momentum and Choppiness indes in the Monthly chart are showing positive signals.
Conclusion: The ideal Entry Point will be in the 437 to 450/- range however one can start buying 460/- levels with a long term ( 1.5 to 2 Years) target of 835/-
