Asahi India Glass (₹672.55)
Approaching a support
Since September last year, the stock of Asahi India Glass has been in a bear trend. Despite a rally last week, it is down for 2025 so far. However, note that the stock is approaching a crucial long-term trendline at ₹610. Just below this is the key base of ₹580. The stock is expected to resume the rally on the back of the support band of ₹580-600.
It has the potential to appreciate to ₹900. Hence, participants can buy the stock at ₹670 and buy more shares if the price dips to ₹620. Place stop-loss at ₹560 at first. Revise the stop-loss up to ₹690 when the price hits ₹775. When the stock touches ₹850, exit half of the holdings. Move the stop-loss up to ₹780 for the remaining position. Exit them at ₹900.
Blue Star (₹1,912.90)
Trades above key base
The stock of Blue Star has formed a strong base around ₹1,760 over the past few months. Although the price has seen a drop so far this year, the support at ₹1,760 holds true and so long as the stock is above this, the probability of a rally will remain high. At ₹1,760, the 50-week moving average coincides, making it a strong support.
Over the medium term, we expect the stock to appreciate to ₹2,600 with a few intermittent corrections. Therefore, traders can go long at ₹1,910 and accumulate at ₹1,850. Place stop-loss at ₹1,670. When the stock rises to ₹2,300, revise the stop-loss to ₹2,100. On a rally to ₹2,500, trail the stop-loss to ₹2,350. Liquidate the longs at ₹2,600.
KEI Industries (₹3,847)
Forming lower lows
The stock of KEI Industries has been forming lower highs and lower lows since June last year. Last month, it slipped below a key support at ₹4,000, adding momentum to the downtrend. Although there was a considerable recovery in price last week, the stock remains below the support-turned-resistance level of ₹4,000.
Thus, the likelihood of a decline is high. We anticipate a decline in price to ₹3,200 in the short term. Therefore, traders can go short on KEI Industries at ₹3,850. Add shorts at ₹4,000 and keep stop-loss at ₹4,200. When the price drops to ₹3,550, revise the stop-loss to ₹3,780. On a further fall to ₹3,350, bring the stop-loss down to ₹3,500. Book profits at ₹3,200.