IndusInd Bank (₹857.75)

Signs of a breakout

The stock of IndusInd Bank registered a three-month high of ₹880.85 on Friday before ending the session at ₹858. Note that ₹860 is a resistance. Since the price has remained above the 21-day moving average over the past month and that the stock has been forming higher bases during this time, a bullish inclination can be seen.

This can potentially lead to a decisive breakout of ₹860. In such a case, the stock can rally to ₹1,070. Traders can buy now at ₹857 and ₹830. Place a stop-loss at ₹790 as a drop below this level can turn the outlook weak. When the stock rises to ₹950, trail the stop-loss to ₹880. Move the stop-loss up to ₹950 when the price hits ₹1,020. Exit at ₹1,070.

Maharashtra Seamless (₹761.50)

Trend turning bullish

The stock of Maharashtra Seamless appreciated 13 per cent last week. This led to the breach of a resistance at ₹725 and the chart shows that the broader trend is turning bullish. We expect the current rally to extend to ₹840 from where there might be some slowdown in the form of a sideways trend or a minor correction to ₹780.

Post this, the stock can establish another leg of rally which can take it to ₹1,000. Therefore, participants can buy now at ₹761 and ₹720. Place initial stop-loss at ₹600. When the price rises to ₹840, revise the stop-loss to ₹760. Tighten the stop-loss further to ₹880 when the stock hits ₹930. Liquidate the longs at ₹1,000.

TBO Tek (₹1,393.30)

Forms inverted head and shoulder

The stock of TBO Tek has been in an uptrend over the past two months. Last week, it gained nearly 10 per cent. This upswing is likely to result in the breach of the nearest resistance at ₹1,410. Such a breakout can confirm an inverted head and shoulder pattern, a strong indication of bullish trend reversal.

While this chart set up, if confirmed, hints at a potential move to ₹1,760, given the broader picture, we forecast the price to rise further higher to ₹1,800. So, go long at ₹1,393 and buy more shares at ₹1,300. Initial stop-loss can be ₹1,220. When the stock reaches ₹1,520, modify the stop-loss to ₹1,350. Alter the stop-loss to ₹1,520 when the price hits ₹1,680. Book profits at ₹1,800.

Published on June 28, 2025