Investors have paid higher prices over time
to buy The Indian Hotels Company Limited
and the stock is in a rising trend channel in
the medium long term. This signals
increasing optimism among investors and
indicates continued rise. The stock has
also broken an inverse head and shoulders >
formation.
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A decisive break of the neckline
at approximately 326 will signal a further
rise to 367 or more. The stock is between
support at rupee 315 and resistance at
rupee 344.
A definitive break through of
one of these levels predicts the new
direction. The stock is overall assessed as
technically positive for the medium long
term.