The Indian Hotels Company | Buy | Target Price: Rs 825-830 | Stop Loss: Rs 710
Indian Hotels is showing a bullish breakout from a prolonged rectangular consolidation pattern, with the stock moving above the Rs 750–760 resistance zone and trading near Rs 772.10. The breakout is accompanied by improving momentum, while RSI and MACD are turning positive, supporting the near-term bullish bias. The rising long-term moving average around ₹690–700 provides a broader trend support. Immediate support is placed at Rs 750–755, followed by Rs 720–700. A sustained move above Rs 780 could potentially extend the rally towards new swing highs. Overall, the technical outlook remains positive, subject to follow-through buying and sustained trading above the former resistance band. Therefore, one can accumulate a stock on dips in range of Rs 750-760 levels with the expected upside of Rs 825-830 levels with stop loss below Rs 710 levels.
Recommended by: SMC Global Securities
HCL Technologies | Buy | Target Price: Rs 1,448.20-1,510.20 | Stop Loss: Rs 1,301
The chart of HCL Technologies is showing a bullish breakout from a long term downward sloping line. Price has again moved above most of the moving averages, indicating improving momentum and strengthening trend structure. RSI is near the bullish zone around 58, reflecting strong momentum with room before overbought territory, supporting further upside without signalling exhaustion. We recommend to buy at current price with short-term targets of Rs 1,448.20-1,510.20, and keep a stop loss at Rs 1,301.
Recommended by: Canara Bank Securities
HBL Engineering | Buy | Target Price: Rs 900-910 | Stop Loss: Rs 735
HBL Engineering (formerly known as HBL Power Systems Ltd) has delivered a decisive upside move on the daily chart, after consolidating inside a broad Rs 700-830 range for several months. It rebounded sharply from the range support near 700, forming a long bullish candle that reclaimed the 200-DMA as well and tested the multi-month resistance trend line near Rs 835-840. The breakout is backed by exceptionally high volumes, highlighting strong participation. RSI has jumped to the 65-70 zone, while MACD is turning upward from below the zero line, hinting at fresh momentum. A sustained close above 800 would confirm a range breakout, opening move towards Rs 900 levels. On the downside, support is placed at Rs 745-750, followed by the crucial Rs 700 trend line base. Therefore, one can accumulate a stock on dips in the range of Rs 800-810 for the expected upside of Rs 900-910 levels with stop loss below Rs 735 levels.
Recommended by: SMC Global Securities
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
