Balkrishna Industries (₹2,704.40)
Sturdy help forward
The inventory of Balkrishna Industries has been regularly depreciating since August final 12 months. However the worth motion signifies that the bears have misplaced traction in latest weeks. Going forward, there’s a risk of additional drop in worth. Nonetheless, the draw back may be restricted because the inventory has a substantial help at ₹2,500.
We count on the inventory to start out 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 value softens to ₹2,500. Cease-loss may be at ₹2,350. Path the stop-loss to ₹2,850 when the inventory hits ₹3,000. Elevate the stop-loss to ₹2,980 when the inventory touches ₹3,150. E-book income at ₹3,250.
ICICI Lombard Common Insurance coverage (₹1,948.75)
Indicators of a bullish reversal
The inventory of ICICI Lombard Common Insurance coverage depreciated between October and December final 12 months. After it reached the ₹1,750-1,800 worth band, a help, the downtrend misplaced momentum. Because the 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 value may average to ₹1,875. An eventual breakout of ₹2,000 can raise 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. Elevate this to ₹1,980 when the value 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 worth. 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 raise the inventory above the resistance at ₹370 and take it to ₹450 within the coming months.
However earlier than the breakout of ₹370, the value would possibly average to ₹340. Given these elements, 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. Elevate the stop-loss to ₹395 when the value hits ₹425. Liquidate the longs at ₹450.
