Trading Calls: Mehul Kothari recommends Buy Birlasoft, Sell IndusInd Bank


IndusInd Bank

Sell Below: Rs 1,040

Target: Rs 990

Stop Loss: Rs 1,070

In the past few sessions, has rallied from Rs 800 zone towards the recent high of Rs 1,070 without any corrective move.

At this point in time, the stock is facing some headwinds at the placement of the 200 week moving average. The intraday chart are showing signs of exhaustion and thus we might see some profit booking.

Thus, we advise traders to sell the stock only below Rs 1,040 for downside target of Rs 990 in the coming sessions.



Buy Near: Rs 345

Target: Rs 365

Stop Loss: Rs 335

The stock has confirmed a fresh breakout on the daily chart after announcing decent results. The recent positive price action is supported with incremental volumes and that indicates accumulation.

Thus, we advise traders to buy the stock near Rs 345 for an upside target of Rs 365 in the coming weeks.

(Mehul Kothari – AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link