Bharat Forge’s stock, on a steady uptrend since June, broke the crucial ₹1,000-mark last week. After reaching a fresh high of ₹1,083.90 on Wednesday, it retracted, resulting in a daily loss. Nonetheless, the bullish trend remains intact, and the daily chart suggests potential for a rally, notably on Thursday.
Hence, traders might consider intraday long positions in Bharat Forge. Purchase the stock at the current level of ₹1,057.95, with a stop-loss at ₹1,045. Adjust the stop-loss to ₹1,068 when the stock reaches ₹1,080. Take profits at ₹1,090. If the stock opens with a gap-up, wait for it to stebilise around ₹1,057 before buying.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)