Dynacons Systems, Cohance Life shares: Strategy after 50-60% rally | Daily Calls on BTTV

Dynacons Systems & Solutions Ltd and Cohance Lifesciences Ltd are two stocks that have seen strong momentum over the past one month, with the scrips surging 50-60 per cent during the period mentioned. Anshul Jain, Head of Research at Lakshmishree Investment addressed a queries on the two stocks on BTTV's Daily Calls today. Jain is of view that Cohance Lifesciences is for aggressive traders. He sees some consolidation on Dynacons Systems after the recent rally.

Dynacons Systems and Solutions Ltd | Consolidation on the cards
Dynacons Systems and Solutions Ltd rallied 54 per cent in the past one month. Anshul Jain, Head of Research at Lakshmishree Investment said the stock looks strong on technical chart, adding that the level of Rs 1,190 was a major resistance level that has been taken out. Jain said the stock has seen a surge in volumes. On Wednesday, the stock tested another resistance of Rs 1,338 and was holding above the level. Following the recent sharp upmove, Jain believes some consolidation is likely on the counter in the next two weeks. But overall, he sees a possibility of the stock testing its December 30, 2024's swing high of Rs 1,617. Existing traders should hold the stock, he said. 

Cohance Lifesciences Ltd: Swing trading opportunity?
On a query from a viewer from Gujarat on whether one could find Swing trading opportunity in Cohance Lifesciences, Jain said it is an aggressive trade after a 60 per cent rally in the past one month. He said if a trader is a risk-taker, he can look to buy the stock taking today's low of around Rs 459 as stop loss. That said, Jain said he would have liked to give the stock four-five sessions to consolidate for a clearer pattern to emerge.

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