Strategy for Netweb Technologies shares: Support zone, upside, target price and more | Daily Calls on BTTV

Jatin Gedia, Technical Research Analyst at Teji Mandi, a subsidiary of Motilal Oswal Financial Services Ltd (MOFSL), shared his outlook on Netweb Technologies India Ltd during an interaction with Business Today TV (BTTV).

In response to a query by a viewer named Archana on the outlook of the stock, the analyst noted that the counter has been an outperformer.

"It has witnessed some profit booking from at higher levels. The Rs 3,660-Rs 3,570 range will be the short-term support zone," Gedia stated.

For fresh buying, he said one should enter around Rs 3,660-3,570 level. "On the upside, Rs 4,240 is the immediate target that we are looking at," he added.

"From a five-year kind of a perspective, I think Rs 5,000 should be easily achievable in the next three to five years. So, it is good stock to hold. The overall trend is positive and 'buy-on-dips' at the support level should be the strategy," Gedia further stated.

Meanwhile, shares of Netweb Technologies settled 3.31 per cent lower at Rs 3,930.95 on Monday.

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