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Gland Pharma (₹1,992.35)
Likely breakout ahead
The bear grip on the stock of Gland Pharma loosened in May last year after it touched ₹900. This led to the end of a long-term downtrend and a recovery followed. But the stock has been facing a roadblock at ₹2,100 since early 2024. However, considering the recent price action, the stock appears well placed to breach the barrier at ₹2,100.
This can take Gland Pharma’s shares to ₹2,600 over the medium term. But before the breakout, the scrip might see a dip to ₹1,700. So, buy now at ₹1,992 and accumulate at ₹1,700. Keep stop-loss at ₹1,450. When the price rises to ₹2,250, move the stop-loss up to ₹2,100. When the stock hits ₹2,450, tighten the stop-loss to ₹2,320. Book profits at ₹2,580.
Tata Teleservices (Maharashtra) (₹102.11)
Undergoing trend reversal
The stock of Tata Teleservices posted a substantial 33 per cent gains last week. With this, ₹74 has established itself as a strong base following a rebound from this level. The price action indicates a potential bullish reversal. Although the price could moderate from here, probably to ₹85, we expect Tata Teleservices to eventually appreciate to ₹200 before the end of next year.
Therefore, participants can buy this stock now at ₹102 and buy more at ₹85. Place stop-loss at ₹45. When the stock touches ₹140, exit one-fourth of your holdings. Revise the stop-loss to ₹115 for the remaining positions. On a rally to ₹175, alter the stop-loss to ₹160. Fully exit at ₹200.
Timken India (₹3,937.55)
Uptrend to resume
The stock of Timken India, after breaking out of the ₹2,700-3,650 range in May, rallied to mark a record high of ₹4,816 by mid-June. However, the scrip retracted, and it closed at ₹3,937.55 last week. The chart shows that ₹3,900 is the nearest support followed by ₹3,650. Going ahead, we anticipate the stock to recover either from the current level or after moderating to ₹3,650.
An upswing afterwards can lift Timken India to ₹5,000. So, buy now at around ₹3,930 and add longs if the price drops to ₹3,650. Place initial stop-loss at ₹3,200. When the stock surpasses ₹4,500, trail the stop-loss to ₹4,150. Raise the stop-loss further to ₹4,500 when the price touches ₹4,800. Liquidate at ₹5,000.
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