The Indian Hotels Company Limited is within an approximate horizontal trend channel in the medium long term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The stock is moving within a rectangle formation between support at 306 and resistance at 330.
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A decisive break through one of these levels indicates the new direction for the stock. The stock has marginally broken up through resistance at rupee 320. An established break predicts a further rise. Volume has previously been low at price tops and high at price bottoms. This weakens the stock and indicates increased chance of a break down. The stock is overall assessed as technically positive for the medium long term.
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