Investors with a short-term perspective may buy the stock of Indian Hotels Company at current levels.
The stock jumped 6.4 per cent accompanied by above average volume on Wednesday. It breached an immediate resistance at Rs 153.
In mid-September, the stock took support at Rs 130 and began to trend upwards.
The key support at Rs 145 and the 200-day-moving-average have cushioned the stock and have helped it to trend upwards.
The short-term outlook is bullish for the stock. Targets are Rs 160.50 and Rs 165.50. Traders can buy the stock of Indian Hotels Company with a stop-loss at Rs 152.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.