Hindustan Unilever (₹2,368.90)
At a long-term help
The inventory of Hindustan Unilever, since September final yr, has been in a gradual decline. Within the second half of December, it shaped a morning star sample on the weekly chart, hinting at bullish reversal. Nonetheless, the value fell additional. That stated, final week, the inventory rebounded from a long-term trendline help at ₹2,280.
Additionally, the value has now moved above the bottom of morning star sample. So, from right here, the chance of a rally is excessive. Purchase at ₹2,365 and at ₹2,280. Cease-loss may be ₹2,000. When the value hits ₹2,550, revise the stop-loss to ₹2,400. On a rally to ₹2,750, exit one-third of the longs and modify the stop-loss to ₹2,600. At ₹2,900, transfer the stop-loss additional as much as ₹2,800. Exit at ₹3,000.
Minda Company (₹567.85)
Pattern turns bullish
The inventory of Minda Company was largely charting a sideways development between November final yr and mid-January this yr. It was oscillating between ₹480 and ₹550. About two weeks in the past, the scrip broke out of ₹550, probably turning the development bullish. There was a moderation in value within the latest periods and this might lengthen to ₹520.
However then, it’s extremely doubtless that it’s going to begin rallying after the dip. The inventory can recognize to ₹750. Subsequently, merchants can go lengthy at ₹565 and accumulate at ₹520. Place stop-loss at ₹460. When the inventory rises above ₹620, revise the stop-loss to ₹570. Tighten the stop-loss to ₹650 when the value hits ₹700. Liquidate the longs at ₹750.
Mphasis (₹3,010.25)
Prone to see a breakout
The development has been bullish since April 2023 for the inventory of Mphasis. Nonetheless, since August final yr, it was largely transferring in a broad value band between ₹2,800 and ₹3,200. Final week, it rebounded from the vary backside. Notably, the 200-day transferring common additionally lies at ₹2,750 and therefore, the value area of ₹2,750-2,800 is a powerful base.
From the present degree, we anticipate the inventory to rise and escape of ₹3,200 after which transfer as much as ₹3,500 within the coming weeks. Therefore, go lengthy at ₹3,000 and purchase extra shares if the value dips to ₹2,850. Preserve stop-loss at ₹2,620. On a breakout of ₹3,200, alter the stop-loss to ₹3,000. When the inventory hits ₹3,300, revise the stop-loss to ₹3,170. Exit at ₹3,500.
