I have bought Canara Bank shares at ₹117. What is the short-term outlook?

Ashwin kumar

Canara Bank (₹107.20): The long-term trend is up. The recent rise from the low of ₹78.60 made in March this year indicates the resumption of the uptrend after the correction. The stock has support in the ₹100-95 region which can be tested in the near term. A rise thereafter can take the stock up to ₹125-135 in the next two-three months.

A decisive break above ₹135 will then clear the way for a rally to ₹170 in the long term. You can accumulate now. Keep a stop-loss at ₹92. Revise the stop-loss up to ₹115 as soon as the stock goes up to ₹120. Move the stop-loss further up to ₹120 when the price touches ₹125. Exit the stock at ₹135.

What is the outlook for Aditya Birla Sun Life AMC? My purchase price is ₹712.

Rohit

Aditya Birla Sun Life AMC (₹757): The long-term outlook is bullish. However, in the short term there are chances to test the ₹700-670 support zone. Thereafter the stock can resume its uptrend. In case the stock declines below ₹670, the downside can be limited to ₹630. A fall beyond ₹630 is unlikely.

The stock has the potential to target ₹960 over the next one year. You can use the short-term fall to accumulate your position. Buy more at ₹690. Keep a stop-loss at ₹580 initially. Trail the stop-loss up to ₹760 when the stock goes up to ₹840. Move the stop-loss further up to ₹820 and ₹880 when the share price touches ₹860 and ₹920 respectively. Exit the stock at ₹950.

I am holding Dolat Algotech shares at an average price of ₹ 80. Should I continue to hold or exit?

Sekar S, Thoothukudi 

Dolat Algotech (₹97): The trend is down since September last year. The recent bounce from the March low of ₹68 does not give a strong sign of a trend reversal. Support is around ₹90. While above ₹90, there are chances to see a rise to ₹130 in the next few months. But a decisive rise above ₹130 is needed to confirm a trend reversal.

So, for now, you can protect some profit by keeping a stop-loss at ₹88 and hold the stock. Revise the stop-loss up to 98 when the price goes up to ₹115. Move the stop-loss further up to ₹110 when the price touches ₹120. Exit the stock at ₹125.

What is the long-term outlook for Infibeam Avenues? Can I buy this stock now?

Neeshika, Kochi

Infibeam Avenues (₹21): The recent bounce from the low of ₹14.10 made in April this year is happening from an important trendline support. That leaves the bias bullish. Intermediate resistance is around ₹26. A break above it can take Infibeam Avenues share price up to ₹45-47 over the next couple of years.

Failure to breach ₹26 can keep the stock in a range of ₹15-26 for a few months. You can buy the stock now and accumulate on dips at ₹19 and ₹17. Keep the stop-loss at ₹10. Trail the stop-loss up to ₹23 as soon as the stock goes up to ₹33. Move the stop-loss further up to ₹29 and ₹37 when the price touches ₹34 and ₹40 respectively. Exit the stock at ₹45.

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Published on June 21, 2025