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What’s the outlook for Tata Metal?
Hasmukh A Thakkar
Tata Metal (₹1,023.5): The inventory worth made a transparent prime at ₹1,534.6 in August final 12 months. It has tumbled over 33 per cent from its excessive. The pattern has reversed. The outlook is bearish now. The inventory has room to fall farther from right here. Resistance will likely be within the ₹1,050-1,100 area. This has been capping the upside during the last couple of weeks. Quick help is at ₹960. Tata Metal is extra prone to break this help. Such a break can drag it right down to ₹892 – the 61.8-per cent Fibonacci retracement help stage. A break under ₹892 will see an prolonged fall to ₹785.
If you’re holding this inventory, it’s higher to exit at present ranges. Look ahead to a fall to purchase the inventory once more. For these contemplating getting into this inventory, purchase 40 per cent of the supposed quantity at ₹910. Purchase the remaining at ₹810. The common buy worth will then be at ₹850. Hold a stop-loss at ₹680. Transfer the stop-loss to ₹960 when the inventory worth rises to ₹1,150. Exit the place at ₹1,500. A contemporary rally from both ₹892 itself or from ₹785 could have the potential to take the worth as much as ₹1,500 ranges once more over the long run.
I’m holding shares of Shanti Gears at ₹230. What’s the quick and long-term outlook?
Shoeb Khan
Shanthi Gears (₹223.5): The inventory got here off sharply final week after hovering round an important long-term resistance stage of ₹240. The worth motion on the weekly chart signifies that the inventory has been struggling to breach ₹240 decisively during the last a number of weeks. So, you must be very cautious as the possibilities are excessive to see a pointy correction. A direct help is at ₹220. A break under it can enhance the hazard of the inventory falling to ₹180 or ₹165 over the medium time period. If you happen to can stand up to the loss, maintain a stop-loss at ₹215 and maintain it. If a bounce from ₹220 occurs, then look to exit the inventory at ₹285.
Alternatively, in case your stop-loss is hit, then look ahead to a fall and purchase the inventory once more at ₹185 and ₹170. For this place, maintain the stop-loss at ₹135 and maintain it. Path the stop-loss as much as ₹190 as quickly because the inventory strikes as much as ₹230. Transfer the stop-loss additional as much as ₹240 when the worth reaches ₹260. Exit the inventory at ₹300.
I’m holding shares of Kalpataru Energy Transmission at ₹386. What’s the medium- and long-term outlook? Can we accumulate the shares? If that’s the case, at what ranges?
S. Rekha
Kalpataru Energy Transmission (₹364.45): The inventory has been in a downtrend since August final 12 months. Inside this downtrend, there’s a sturdy resistance round ₹400. A near-term help is at ₹320. Even when the inventory manages to carry above ₹320, it should rise previous ₹400 to ease the draw back stress. However that appears much less possible as seen from the chart. There’s a sturdy probability of the inventory breaking under ₹320 within the coming weeks. Such a break can drag the worth right down to ₹240-220 within the subsequent six months or so. Thereafter, a contemporary long-term rally can start concentrating on ₹500 and even ₹500 ranges over the subsequent couple of years.
If you happen to intend to carry this inventory for the long run, you’ll need lots of persistence to resist the loss. Look ahead to a fall and accumulate at ₹245 and ₹225. Hold a stop-loss at ₹170. Transfer the stop-loss as much as ₹310 as quickly because the inventory rises to ₹440. Revise the stop-loss additional as much as ₹490, as quickly because the inventory touches ₹540 on the upside. Exit the inventory at ₹580.
Revealed on
June 11, 2022
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