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Long-term investors, with a minimum time frame of two years, can buy Borosil Renewables (₹622.50) shares at current levels. The outlook is bullish. The stock price had surged over 20 per cent last week, breaking above the key ₹525-530 resistance zone. This rise confirms that the downtrend in place since April 2022 has got reversed. Indeed, this reversal has happened with a double bottom bullish reversal pattern formation on the charts. That strengthens the case for the trend reversal. Moving average cross-overs on the chart also strengthens the bullish case. The region between ₹530 and ₹525 will now act as a strong support and limit the downside in case there is an intermediate dip in prices.
The Borosil Renewables share price has the potential to target ₹1,300-1,350 over the next couple of years or even earlier than that. Long-term investors can buy Borosil Renewables now. Accumulate dips at ₹580. Keep a stop-loss at ₹430. Trail the stop-loss up to ₹720 when the price moves up to ₹880. Move the stop-loss further up to ₹1,050 when the Borosil Renewable share price touches ₹1,180 on the upside. Exit the shares at ₹1,300.
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