 "Gail India, Indraprastha Gas have given a fresh breakout, says Ajit Mishra")
Apollo Tyres Limited
Recommendation: Buy
Last Close: Rs 221.05
Initiation range: Rs 218-220
Target: Rs 234
Stop loss: Rs 213
Also Read
We’re seeing noticeable traction in tyre stocks with the rebound in the auto counters. Apollo Tyre has been witnessing a gradual up move after retesting the major support zone of long term moving average (200-EMA). Indications are in the favour of a steady rise from hereon.
GAIL (India) Limited
Recommendation: Buy
Last Close: Rs 156
Initiation range: Rs 152-155
Target: Rs 166
Stop loss: Rs 149
GAIL has witnessed a breakout from a congestion zone, after spending nearly 3 months in a corrective phase. The sharp surge in volumes combined with the existence of a strong support zone of moving averages ribbon on the daily chart is further adding to the positivity. We thus recommend initiating fresh longs in the given range.
Indraprastha Gas Limited
Recommendation: Buy
Last Close: Rs 587
Initiation range: Rs 585-590
Target: Rs 625
Stop loss: Rs 570
IGL has witnessed a breakout from the consolidation range of 500-585 levels after spending nearly nine months. The chart pattern combined with overall buoyancy in the energy space is pointing towards a steady rise. Traders shouldn’t miss this opportunity and accumulate in the mentioned zone.
==============================
Disclaimer: Ajit Mishra is VP - Research at Religare Broking.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%