Balkrishna Industries (₹2,704.40)
Robust help forward
The inventory of Balkrishna Industries has been progressively depreciating since August final 12 months. However the value motion signifies that the bears have misplaced traction in current weeks. Going forward, there’s a chance of additional drop in value. Nonetheless, the draw back might be restricted because the inventory has a substantial help at ₹2,500.
We count on the inventory to begin appreciating from the present stage or after a dip to ₹2,500. So, one can go lengthy at ₹2,700 and purchase extra shares if the worth softens to ₹2,500. Cease-loss might be at ₹2,350. Path the stop-loss to ₹2,850 when the inventory hits ₹3,000. Increase the stop-loss to ₹2,980 when the inventory touches ₹3,150. Guide earnings at ₹3,250.
ICICI Lombard Normal Insurance coverage (₹1,948.75)
Indicators of a bullish reversal
The inventory of ICICI Lombard Normal Insurance coverage depreciated between October and December final 12 months. After it reached the ₹1,750-1,800 value band, a help, the downtrend misplaced momentum. For the reason that starting of this 12 months, the scrip has been on the rise. Although there’s a resistance forward at ₹2,000, we count on it to be invalidated.
However earlier than that, the worth might average to ₹1,875. An eventual breakout of ₹2,000 can carry the inventory to ₹2,250. Subsequently, one can go lengthy at ₹1,945 and purchase extra shares at ₹1,875. Place stop-loss at ₹1,780. Increase this to ₹1,980 when the worth hits ₹2,100. Transfer the stop-loss as much as ₹2,080 when the inventory touches ₹2,180. Exit at ₹2,250.
Indus Towers (₹363)
Indications of a breakout
The inventory of Indus Towers, between September and November final 12 months, noticed a decline in value. However over the previous two months, the inventory has been oscillating between ₹316 and ₹370. Final week’s rally has introduced in good bullish momentum. We count on this to carry the inventory above the resistance at ₹370 and take it to ₹450 within the coming months.
However earlier than the breakout of ₹370, the worth may average to ₹340. Given these components, we advise shopping for the inventory of Indus Towers now at ₹363 and accumulate at ₹340. Maintain preliminary stop-loss at ₹310. When the inventory touches ₹400, revise the stop-loss to ₹370. Increase the stop-loss to ₹395 when the worth hits ₹425. Liquidate the longs at ₹450.
