 "Here's why Mehul Kothari is bullish on Rupa, IndusInd Bank")
BUY
IndusInd Bank
Target: Rs 1,070
Stop Loss: Rs 970
After a consolidation of over four months, the stock has managed to breakout of its range above the Rs 1,000-mark. Despite the corrective move in the markets, the stock outperformed its peers and this indicates relative strength. Also, the stock has managed to finally close back above its 200-day moving average. Thus, traders can accumulate the stock in the range of Rs 1,020 - Rs 1,010 with a stop loss of Rs 970 for an upside target of Rs 1,070 in the coming 1 – 3 weeks.
BUY
Also Read
Rupa
Target: Rs 650
Stop Loss: Rs 500
Despite the uncertain markets, the stock has managed to stay in a strong uptrend. The stock has confirmed a multi-year breakout from 2017 year high and that indicates strength. The price action was supported by the strong volume which suggests that the breakout could be genuine. Thus, we advise traders to go long in the stock in the range of Rs 565 - Rs 555 with a stop loss of Rs 500 for an upside target of Rs 650 in 1 – 3 months.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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%