The short-term outlook is bullish for Indian Hotels Company. The stock has surged over 4 per cent on Tuesday and has closed on a strong note. The 200-Day Moving Average (DMA) has provided strong support since February from where the recent upmove has happened. This 200-DMA support is currently at ₹710. Above this, there is 21-DMA support around ₹730. So, any intermediate dips are likely to be limited and short-lived. Indian Hotels Company share price has potential to rise towards ₹840-₹850 in the coming weeks. Traders can go long now at ₹785. Accumulate on dips at ₹755. Keep the stop-loss at ₹725. Trail the stop-loss up to ₹800 as soon as the stock goes up to ₹815. Move the stop-loss further up to ₹820 when the price touches ₹830. Exit the long positions at ₹845.
Video Credit: Businessline
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
