INDUS TOWER ANALYSIS

THIS IS MY CHART OF THE WEEK PICK

FOR LEARNING PURPOSE

INDUS TOWER- The current price of INDUS TOWER is 466.60 rupees

I am going to buy this stock because of the reasons as follows-

1. It is making a new high by breaking the resistance of last 9 years ( we often call this Multi year breakout)

2. This stock has seen some great buying in 2023 to Jun 2024. I have been keeping this stock in my watchlist from last few weeks

3. It has shown better relative strength as it stood strong in volatile times (if you see it 6-9 month comparison)

4. The risk and reward is favourable.

5. Another good part- The overall sector has shown some decent strength and have good momentum. Also, MFs and Insurance have increased their stake in last Q. (This is a good sign)

I am expecting more from this in coming weeks.
I will buy it with minimum target of 35-40% and then will trail after that.
My SL is at 401.30 rupees.
I will be managing my risk.