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Intellect Design Arena: Buy

Investors with a medium-term perspective can consider buying the stock of Intellect Design Arena (₹281) at current levels. The stock has been in a medium-term uptrend since taking support at ₹151 in mid-February 2019, forming higher peaks and troughs. Short-term trend is also up for the stock. Moreover, the long-term trend is also up, since it took support at ₹96 in August 2017. The stock trades well above its 50- and 200-day moving averages.

Following a range-bound movement for more than one month in the band between ₹260 and ₹270, the stock made a positive break-out by gaining 5.8 ...

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