Indian Hotels has overlapping support zones across multiple time frames as shown.
Buy, Stop Loss and Target levels are indicated in the charts
Buy @ 122, Stop Loss @ 115 and Target @ 143.
Keep trailing stop loss to cover your profits.
Always trade with the trend.
The stock seems ripe to finally give a big 10 year break out! Such stocks tend to take time in delivering returns however they tend to always deliver in the medium term! Can a break out be achieved from here? Let's see!
After the formation of Double Bottom(Shown by Blue line) in day graph, Share has formed Piercing Pattern(Shown in Black Box). Relative Strength Index is also supporting price upward movement. All these things indicate that share price will go up now.
Indian Hotels Co. Ltd. engages in the provision of hotel services. It operates through India and Overseas geographical segments. The company was founded by Jamsedji Nusserwanji Tata in 1899 and is headquartered in Mumbai, India.