The stock has formed a 'higher bottom' formation on the daily chart, taking support near 190 levels. It has also reversed eralier trend and has picked up momentum with decent volume to improve the bias. The chart looks attractive for further upside movement with the RSI indicator also showing a trend reversal. It is well placed and we, therefore, suggest to buy this stock for the target of Rs 218-225, keeping the stop loss of Rs 180.
BUY INDIAN HOTELS | CMP: Rs 126.95 | Target: Rs 140-145 | Stop Loss: Rs 118
The stock has been in consolidation for quite some time with 122 levels as a strong base and has currently indicated a momentum pick up, coupled with decent volume, to improve the bias. With the RSI indicator indicating a trend reversal, we anticipate further upside movement in the stock. Buy this stock for an upside target of Rs 140-145, keeping the stop loss of Rs 118.
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