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Investors with a short-term horizon can buy the stock of Thomas Cook India at current levels. Since taking support at ₹48 in August 2013, the stock has been on a long-term uptrend. The medium-term trend is also up and the short-term trend has just turned up. Following a corrective decline from the November 2014 peak of ₹189, the stock found support at ₹150 in late December. The stock subsequently resumed its primary uptrend.
On Thursday, the stock jumped 10 per cent accompanied by above average volume. The daily relative strength index has entered the bullish zone. Weekly RSI too is providing bullish momentum. Both the daily and weekly price rate of change indicator hover in the positive territory implying buying interest. Outlook is bullish for the stock. It can extend its ongoing rally and reach our price target of ₹183 and then ₹186.5 in the forthcoming trading sessions. Buy the stock with a stop-loss at ₹172.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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