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The stock of AIA Engineering, broke out of a critical resistance at ₹2,850 a few weeks back and since then, it has been gaining gradually. On Wednesday, it closed at ₹2,968. The price action in the shorter than daily time frame shows the scrip movement resembling an ascending triangle. This also indicates that the probability of a rally is high on Thursday, making it a good stock for intraday trades. Traders can buy the stock now at ₹2,968, and add more if the price dips to ₹2,942. Place the stop-loss at ₹2,920. When the price goes above ₹3,000, modify the stop-loss to ₹2,970. Book profits when the stock hits ₹3,025.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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