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The long-term outlook for the stock of Amara Raja Batteries (₹569.40) is bullish. The recent rise from the June low of ₹438.15 is just the beginning of a long-term rally.
Strong support is now in the ₹440-₹430 region. The stock has potential to target ₹965 over the next one year. Investors with a long-term perspective can buy Amara Raja Batteries at current levels.
Accumulate at ₹510 and ₹480. Keep a stop-loss at ₹380. Trail the stop-loss up to ₹620 when the stock moves up to ₹740. Move the stop-loss further up to ₹840 when the stock touches ₹910 on the upside. Exit the stock at ₹940.
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