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The stock has been trading in a sideways range for a prolonged period of time for almost two years now. The range of trade has been ₹260-₹500 since September 2020. Within this range, the price is moving higher. The chances are high for the stock to move up towards ₹500 – the upper end of the range in the next three-four weeks or slightly later than that. Supports are at ₹385, ₹380 and ₹365. Traders can go long at current levels. Accumulate longs at ₹390. Keep the stop-loss at ₹355. Trail the stop-loss up to ₹415 as soon as the stock moves up to ₹420 as soon as the stock moves up to ₹445. Move the stop-loss further up to ₹455 when the stock touches ₹470 on the upside. Book profits at ₹495.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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