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We recommend a buy in Indian Hotels Company from a short-term perspective. The stock’s 5 per cent jump on November 11 has reinforced its intermediate-term uptrend that has been in place since its March low of Rs 34. With this gain the counter has surpassed its long-term resistance band between Rs 80 and Rs 85. We note that there has been an increase in volume over the past two weeks. The stock is trading well above its 21-day and 50-day moving averages. The daily and weekly relative strength indices are featuring in the bullish zone. Besides, the daily moving average convergence and divergence indicator has signalled a buy. Taking in to consideration that the stock’s intermediate-term uptrend-line is intact, we are bullish from a short-term perspective. We anticipate its uptrend to prolong until it hits our price target of Rs 98. Traders with a short-term perspective can buy the stock while maintaining stop-loss at Rs 83.5.

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