Birla Corporation’s share price could be gearing up for a fresh short-term rally. The stock is attempting to bounce back after making a low of ₹1,148.10. This bounce is happening from around the 100-Day Moving Average support. Also, astrong trendline support is at ₹1,135. Both of these factors leave the bias positive. The intermediate resistance is around ₹1,210. But the chances are high for the stock to breach this hurdle. Such a break can take the Birla Corporation share price up to ₹1,300 over the next three to four weeks. Traders can go long now. Accumulate on dips at ₹1,160. Keep the stop-loss at ₹1,115. Trail the stop-loss up to ₹1,195 as soon as the stock moves up to ₹1,215. Move the stop-loss to ₹1,245 when the price touches ₹1,260. Exit the long positions at ₹1,285.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)