The short-term outlook for the stock of Triveni Turbine is bullish. The stock surged 4.65 per cent on Thursday, indicating a strong momentum. Prior to this rise, the stock has formed a good base at around ₹300. So, Thursday’s rise marks the end of the corrective fall that was in place since the beginning of this month.
A strong support is in the broad ₹300-290 region. Triveni Turbine share price can rise to ₹350 over the next three-four weeks. Traders can go long at the current levels and accumulate on dips at ₹305. Stop-loss can be kept at ₹290. Trail the stop-loss up to ₹318 when the stock price moves up to ₹323. Move the stop-loss further up to ₹328 when the stock touches ₹335 on the upside. Exit the long positions at ₹345.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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