#INDOSTAR The chart shows a medium-term uptrend from May 2024 #INDOSTAR The chart shows a medium-term uptrend from May 2024 on wards.
The stock has been moving higher since the lows of ₹160 and has now reached around ₹286.
The stock is currently facing resistance at around ₹290, where it has previously been rejected. Enter around ₹270-₹280 on any retracement for better risk-to-reward.
Alternatively, if the stock breaks out above ₹290-₹300, it could be a good entry point for a breakout trade.
For a long-term position, buying on a dip near ₹230 would provide a strong base with a solid risk-to-reward ratio.
INDOSTAR
INDOSTAR Analysis & PredictionThis is the analysis of INDOSTAR in Weekly Time Frame. Watch carefully. The chart explains itself.
The stock managed to break the long term resistance with increasing volume. It can retest the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Multiyear Breakout is a bullish signal for stocks.
There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown.
Always maintain your risk management.
Book your profit according to your “STOMACH”.
Disclaimer:
This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Happy trading.
About INDOSTAR :
Indostar Capital Finance Ltd. engages in the provision of lending used and new commercial vehicles. It operates through the following segments: Corporate Lending, Small and Medium Enterprises Lending, Commercial Vehicle Lending, and Housing Finance. The company was founded by Atul Kapur and Sameer Sushil Sain in July 21, 2009 and is headquartered in Mumbai, India.
INDOSTAR - 1st tgt 230 and then 280NSE:INDOSTAR
cmp is 193.45
locked in upper circuit today
1st tgt is 230 and when this hurdle is overcome, 280-300 is achievable
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent research and evaluation to ascertain whether my perspective is consistent with your studies.