Bharti Airtel (₹1,815.60)
Set to rally to ₹2,000
The stock of Bharti Airtel touched a record high of ₹1,904.20 last Monday. But then, the price moderated and the scrip closed at ₹1,815.60 last week. Nevertheless, the outlook remains bullish, and the dip in price is only a corrective move. We expect the stock to resume the rally, either from the current level of ₹1,815 or after extending the decline to ₹1,775.
So long as the support at ₹1,750 holds, the bias will be bullish. So, participants can buy the stock of Bharti Airtel at ₹1,815 and accumulate if the price dips to ₹1,775. Place stop-loss at ₹1,730. When the price reaches ₹1,910, trail the stop-loss to ₹1,850. Move the stop-loss to ₹1,910 when the stock touches ₹1,960. Book profits at ₹2,000.
EIH Associated Hotels (₹366.85)
Bounces off a key support
In early March, the stock of EIH Associated Hotels bounced off the support band of ₹300-320. This base has been supporting the stock since February last year. The prevailing price action shows that the current uptrend is steady. Even though there might be some softening in price, possibly to ₹335, the bulls are expected to eventually take the stock higher.
The price can touch ₹480 over the next few months. So, go long at ₹366 and buy more shares if the stock moderates to ₹335. Keep initial stop-loss at ₹290. When the price rises to ₹410, trail the stop-loss to ₹360. Tighten the stop-loss to ₹415 when the stock appreciates to ₹450. Liquidate the longs at ₹480.
Kansai Nerolac Paints (₹262)
Signs of upward reversal
The stock of Kansai Nerolac Paints has been appreciating for nearly two months. Consequently, it has erased the losses it made since the beginning of 2025. The chart shows that the scrip has formed a rounding bottom pattern, hinting at a potential bullish reversal in trend. The crossover of 20- and 50-day moving averages substantiate the bright outlook.
Also, the rebound happened on the back of the support at ₹220, which has been holding well since early 2017. So, participants can buy at ₹262 and on a dip to ₹245. Stop-loss can be at ₹212. Revise the stop-loss to ₹275 when the price hits ₹300. Move the stop-loss further up to ₹290 when the stock touches ₹320. Exit at ₹340.
Published on April 26, 2025
