The short-term outlook is bullish for PNC Infratech surge 6 per cent on Wednesday. The stock well above the key intermediate resistance level of ₹362. The region around ₹360 will be a very strong resistance. Intermediate dips to this level are likely to get fresh buyers in the market and limit the downside. Resistance is around ₹385. But the chances are high for the stock to breach this hurdle.
Such a break can take PNC Infratech share price up to ₹405-410 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹362. Stop loss can be kept at ₹345. Trail the stop-loss up to ₹374 when the price goes up to ₹383. Move the stop-loss further up to ₹385 when the price touches ₹395. Exit the long positions at ₹405.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)