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Advanced Enzyme Technologies (₹375.3)
Bull flag pattern
Advanced Enzymes Technologies’ stock began rallying in April this year after depreciating over the preceding two years. It took support at ₹230 and started moving up. In early December, the stock surpassed a resistance at ₹345 and confirmed a bull flag on the weekly chart. This is a bullish chart pattern. It indicates that the stock price could see a swift rally to ₹460.
But before that, there might a minor decline, possibly to ₹345. So, we suggest splitting the entries into three. Buy now at ₹375 and add longs on a dip to ₹365 and ₹355 as well. Place the stop-loss at ₹330 initially. When the stock moves above ₹400, alter the stop-loss to ₹380. Tighten the stop-loss further to ₹410 when the price hits ₹430. Liquidate at ₹450.
Endurance Technologies (₹1,833)
Sees a range breakout
Endurance Technologies’ stock bounced off the support at ₹1,200 in April this year. But after reaching ₹1,749 in July, the bulls lost momentum and consequently, the price moderated. The support at ₹1,525 arrested the decline and the stock has now resumed another leg of rally on the back of this base. By breaking out of ₹1,730 last week, the stock is now positioned itself to scale higher. The chart indicates a potential upswing to ₹2,200.
That said, the scrip could retest ₹1,730. So, buy now at ₹1,833 and accumulate in case the price dips to ₹1,750. Stop-loss can be at ₹1,600 initially. Shift this up to ₹1,900 when the stock appreciates to ₹2,000. Raise the stop-loss further to ₹2,020 after the price touches ₹2,100. Exit at ₹2,200.
Indus Towers (₹185.6)
Likely to rebound
Indus Towers’ stock, in April this year, formed a base at ₹136. It then started to appreciate. However, after gaining to ₹195 in September, the stock began to move sideways. It was oscillating between ₹178 and ₹195, except for a temporary fall to ₹168 once in October. Last week, the stock saw a decline in price. But the range stays true.
We expect the stock to extend last week’s downswing to ₹170 and then see a recovery. Such a move will most probably lift the stock to ₹230. Therefore, one can initiate fresh longs now at ₹186 and add longs if the price softens to ₹170. Keep stop-loss at ₹150 initially. When the stock rallies past ₹205, modify the stop-loss to ₹190. Tighten the stop-loss further to ₹210 on a rally to ₹220. Exit at ₹230.
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