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CRISIL (₹3,897.80)
Likely to resume uptrend
CRISIL’s stock began its latest leg of uptrend towards the end of December 2022 after taking support at ₹2,750. In the first week of June, it broke out of a crucial barrier at ₹3,780. It is currently trading at ₹3,905 and thus, the stock is able to sustain the breakout, a bullish sign. Yet, there is a possibility for the price to soften to ₹3,780 before the next upswing happens.
CRISIL’s share price could touch ₹4,200 in the medium term. Therefore, one can consider initiating longs now at around ₹3,898. Accumulate if the price dips to ₹3,780. Place stop-loss at ₹3,650. When the stock goes past ₹4,020, tighten the stop-loss to ₹3,880. Further tighten the stop-loss to ₹4,000 on a rally to ₹4,100. Liquidate at ₹4,150.
Metropolis Healthcare (₹1,493.8)
Bullish trend reversal
The stock of Metropolis Healthcare was on a downtrend between January and December 2022, where the price declined from about ₹3,450 to ₹1,300. However, the bears lost traction and since early 2023, the stock has been in the sideways range of ₹1,200 and ₹1,400. But in June this year, Metropolis Healthcare closed above ₹1,400, potentially turning the trend bullish.
As per charts, the stock could appreciate to ₹1,700 over the medium term. So, one can go long now at around ₹1,494. Add more longs in case the price dips to ₹1,420. Keep an initial stop-loss at ₹1,360. When the stock surpasses a key level at ₹1,600, modify the stop-loss up to ₹1,525. Tighten the stop-loss further to ₹1,590 on a rally to ₹1,650. Exit at ₹1,700.
Triveni Turbine (₹405.9)
At a rising channel support
Triveni Turbine’s stock, which is in a long-term uptrend, has been facing some downward pressure over the past couple of weeks. After hitting a high of ₹430.5 on June 19, the stock has now moderated to about ₹406. However, there is no threat for the overall bullish bias. The recent price action shows that the stock has been moving within a rising channel.
Since the stock is now trading near the rising channel bottom, the likelihood of a rally is high. So, one can buy Triveni Turbine shares now at around ₹406. Buy more if the price dips to ₹390. Place initial stop-loss at ₹380. When the stock goes above ₹415, revise the stop-loss upward to ₹400. Book profits at ₹430.
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