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The outlook for Bombay Dyeing & Manufacturing Company is bullish. The stock has risen well above the psychological ₹200-mark last week and has been sustaining well above it. The region between ₹200 and ₹195 will now act as a good support zone and limit the downside if an intermediate dip happens. The moving averages have just made a positive cross over on the daily chart. This also strengthens the bullish case. Bombay Dyeing & Manufacturing Company share price can rise to ₹230 in the coming weeks. Traders can go long now at ₹211. Accumulate on dips at ₹203. Keep the stop-loss at ₹194 initially. Trail the stop-loss up to ₹216 as soon as the stock moves up to ₹221. Move the stop-loss further up to ₹223 when the price touches ₹227. Exit the long positions at ₹230.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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