I’ve purchased Bombay Dyeing & Manufacturing Firm at ₹206. Can the inventory return to my buy worth? What’s the outlook?
T Raveendran, Chennai
Bombay Dyeing (₹126.70): The inventory has been in a powerful downtrend since November final yr. Not too long ago the inventory has declined effectively beneath a key assist degree of ₹143. That leaves the hazard excessive of the share worth declining in direction of ₹100-95 initially. An eventual break beneath ₹95 can see the inventory tumbling in direction of ₹60 and even ₹40 within the coming months.
A sustained rise above ₹143 is required to get some aid and switch the outlook bullish. However such an increase appears to be like unlikely. Additionally, wanting on the historic worth motion, the possibilities are excessive to see a fall to ₹60-40 within the coming months. So, you will have to simply accept the loss and exit the inventory now.
I’ve shares of Tube Investments of India. My buy worth is ₹3,640. Can I maintain the inventory for long-term, say three years? Please advise.
Viswanathan
Tube Investments of India (₹2,467): The long-term uptrend that was in place since 2020 has been clearly damaged. Rapid assist is at ₹2,400. A corrective bounce from this assist to ₹3,000 is a chance. However an increase above ₹3,000 won’t be straightforward. A reversal from ₹3,000 can drag the share worth all the way down to ₹2,000-1,980 within the coming months the place it might discover a backside.
Nevertheless, it’d take a very long time for the inventory to regain power and return above ₹3,000. So, you’ll be able to preserve a stop-loss at ₹2,380 for now. Make use of the corrective bounce to exit the inventory at ₹2,980. If the inventory doesn’t bounce from ₹2,400, then adhere to the stop-loss and exit at ₹2,380.
What’s the outlook for Radico Khaitan?
Amol
Radico Khaitan (₹2,051.75): The inventory is in a corrective fall now. Rapid resistance is within the ₹2,200-2,300 area. There’s room for a fall to ₹1,750-1,650. A bounce from the ₹1,750-1,650 area and a subsequent rise above ₹2,300 will carry again the bullish momentum. That leg of rally could have the potential to take Radico Khaitan share worth as much as ₹3,000-3,500 over the long run.
Look forward to dips to enter the inventory. You should purchase at ₹1,750 and at ₹1,680. Hold a stop-loss at ₹1,420. Path the stop-loss as much as ₹1,880 when the worth goes as much as ₹2,220. Transfer the stop-loss additional as much as ₹2,550 when the worth touches ₹2,900. Revise the stop-loss as much as ₹3,000 when the worth goes as much as ₹3,200. Exit at ₹3,400.
Is that this a very good time to purchase Apollo Hospitals Enterprise?
Rakshitha, Ahmedabad
Apollo Hospitals Enterprise (₹6,052): The inventory touched a excessive of ₹7,543 in January and has come down sharply from there. Rapid assist is at ₹6,000. Under that ₹5,700 is the following essential assist. A bounce from both of those two helps can take the share worth as much as ₹6,600 and even ₹7,000. Nevertheless, a powerful rise above ₹7,000 is required to carry again the bullishness and take the worth as much as ₹8,000 and better.
In case the inventory declines beneath ₹5,700, then ₹5,200-5,000 might be seen. If you wish to play the inventory within the brief time period, purchase at ₹5,800. Hold the stop-loss at ₹5,600. Path the stop-loss as much as ₹6,000 when the worth goes as much as ₹6,200. Transfer the stop-loss additional as much as ₹6,300 when the worth touches ₹6,400. Exit the inventory at ₹6,600.
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