Chart Check: This smallcap stock reclaims 200-DMA on daily charts; is it a value buy after 30% fall from highs

Himatsingka Seide’s stock price has bounced back above its crucial short-term trading averages and its 50- and 200-DMA, which is seen as a bullish sign, after falling more than 30% from August 2022 highs. Although it is still down 32% from its respective 52-week high of Rs 127, short-term traders may consider buying the stock now, with experts suggesting a possible target of Rs 110-120 in the next two months. The Relative Strength Index (RSI) is also well placed, making further upside potential visible, according to Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.