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The short-term outlook for Indus Towers is bullish. The stock had surged about 7 per cent on Thursday. This has taken the share price well above ₹197, a key resistance. The region is between ₹197 and ₹195. Intermediate dips are likely to see fresh buyers coming into the market in the above-mentioned support zone. As such, we expect the downside to be limited to ₹195. A fall below it is less likely. Indus Towers share price can rise to ₹218 over the next two–three weeks or even earlier than that. Traders can go long now. Accumulate on dips at ₹198. Keep the stop-loss at ₹193 initially. Trail the stop-loss up to ₹205 when the stock price moves up to ₹209. Revise the stop-loss further higher to ₹211 when the price touches ₹214. Exit the long positions at ₹216.
Note: The recommendations are based on technical analysis. There is risk of loss in trading.
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