In recent times, the stock market has been showing interesting movements, with some stocks catching the attention of investors. Here are three stocks that are expected to see significant action in the coming weeks:
1. Balkrishna Industries: After a period of gradual depreciation, the stock of Balkrishna Industries seems to have found a strong support level at ₹2,500. This could lead to a potential reversal in the stock’s price trend. Investors may consider going long on the stock at ₹2,700, with a stop-loss at ₹2,350. As the stock appreciates, the stop-loss can be trailed upwards to protect gains.
2. ICICI Lombard General Insurance: Following a decline last year, the stock of ICICI Lombard General Insurance has been on the rise in recent weeks. With a support level around ₹1,750-1,800, the stock could see further upside potential towards ₹2,250. Investors may consider entering long positions at ₹1,945, with a stop-loss at ₹1,780. As the stock moves higher, the stop-loss can be adjusted to protect profits.
3. Indus Towers: Having oscillated between ₹316 and ₹370 in the past few months, the stock of Indus Towers recently showed bullish momentum. A breakout above ₹370 could propel the stock towards ₹450. Investors may consider buying the stock at ₹363, with an accumulation level at ₹340. A stop-loss at ₹310 can be placed initially, and adjusted as the stock moves higher towards the target price of ₹450.
Overall, these stocks present interesting trading opportunities for investors looking to capitalize on potential price movements in the market. Stay informed and monitor the price action closely to make well-informed investment decisions.
