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What is the long-term outlook for Indiabulls Real Estate? I have bought this stock at ₹180. Can I hold it for long term? Is this a good level to accumulate?
Vishal
Indiabulls Real Estate (₹136.45): The stock has been oscillating in a broad range for a very long time. Since September 2008, the stock price has been moving up and down between ₹36 and ₹270. Within this range, the price has been moving up now. Immediate resistance is at ₹150. A break above it can take Indiabulls Real Estate share price up to ₹230 and ₹270 – the upper end of the range, in two-three quarters. The price action, thereafter, will need a close watch.
Supports are at ₹110 and ₹95. If you have the risk-appetite, you can accumulate more at current levels. Keep a stop-loss at ₹90. Trail the stop-loss up to ₹120 as soon as the stock moves up to ₹170. Move the stop-loss further up to ₹200 when the price touches ₹220. Exit the stock at ₹260. It’s not certain if the stock can break the range on the upside or not. So it is better to exit the stock near the top of the range and then reinvest the sale proceeds in some other stock.
I have shares of Life Insurance Corporation of India bought at the IPO price of ₹904. I am a long-term investor. I wish to hold the stock for another two years from now. What is the outlook? Can I continue to hold the stock?
Kiruthika S
Life Insurance Corporation of India (₹971.15): This stock has very limited data to do a detailed technical analysis. It is also difficult to give a long-term outlook within this limited data. We will try to provide the important levels here. You can take a call accordingly. The stock has come down sharply after making a high of ₹1,175 in February this year. Support is around ₹900, which is holding as of now. Below that, ₹840 is the next important support.
As long as the stock stays above these supports, the chances are high for it to go back to ₹1,200 again. A decisive break above ₹1,200 will open the doors for Life Insurance Corporation of India share price to target ₹1,400 in a year or two. You can keep a stop-loss at ₹830 and hold the stock. Revise the stop-loss up to ₹1,050 as soon as the stock moves up to ₹1,150. Move the stop-loss further up to ₹1,210 when the price touches ₹1,340. Exit the stock at ₹1,400.
I have bought shares of Page Industries at ₹35,270. What is the long-term outlook?
S Sankaran, Chennai
Page Industries (₹35,833.85): The trend has been down since November 2022. There is no sign of a reversal yet. There is support around 33,800. But it is not very certain that this support can halt the fall. A break below 33,800 can drag Page Industries share price down to ₹30,700-30,000. If the fall extends beyond ₹30,000, ₹27,500 and lower levels can be seen. Crucial resistance is around ₹40,000. Page Industries share price will have to make a decisive monthly close above ₹40,000 to bring back the bullishness.
Only in that case, the trend reversal will get confirmed and the doors will open for the ₹50,000-levels. But for the share price to go above ₹40,000, some strong trigger might be needed. In the absence of any such trigger, we see Page Industries share price going down to ₹30,000 in the coming months. So, it is better to exit the stock at current levels.
(Send your questions to techtrail@thehindu.co.in)
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