Comments
The outlook for Aarti Industires is bullish. The stock has surged over 5 per cent on Monday breaking above a key resistance level of ₹1,040 and has closed on a strong note. This level of ₹1,040 will now act as a good resistance-turned-support. The current upmove is likely to remain strong as the recent rise has happened after a strong base above ₹900. As such the chances are high for the stock to sustain above ₹1,040.
We can expect fresh buyers to come into the market if the stock dips to the immediate support at ₹1,040. The stock can rise to ₹1,130-₹1,160 in the coming days. A break above ₹1,160 will then pave way for a further rise to ₹1,330-₹1,350 in the coming weeks.
Traders with a short-term perspective can go long in the stock of Aarti Industries at current levels. Accumulate longs on a dips at ₹1,055. Keep the stop-loss at ₹960. Trail the stop-loss up to ₹1,105 as soon as the stock moves up to ₹1,155. Move the stop-loss further up to ₹1,210 as soon as the stock rises to ₹1,290. Book profits at ₹1,310.
Note: The recommendations are based on technical analysis. There is risk of loss in trading.
Comments
COMMENT NOW
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.