VIEW ON ATUL AUTO (POSITIONAL CALL)

Shown above is the daily chart of

Atul Auto Ltd.(531795). As we can see that the stock has given a breakout of a channel in which it was trading for the past few weeks. Also the stock seems to complete an expanded A-B-C correction in the longer degree. The positive crossovers of the moving averages and the RSI indicator indicating a buy signal adds to the strength of the stock. Therefore, I suggest to buy the stock above 623 for targets of 650-660 and a stop loss below 590. If sustained above 660 the stock can head towards levels of 685-690.