I’ve purchased shares of Tata Consultancy Companies (TCS) at ₹3,320. What’s the long-term outlook for the inventory? The place can I accumulate?
Shalini Vijay
TCS (₹2,993.55): The inventory is in a robust downtrend. It made a excessive of ₹4,045.5 in January and has been falling since then. Just lately, the inventory declined beneath the important thing help stage of ₹3,075. There may be room for additional fall in the direction of ₹2,775. In a worst case, if TCS breaks beneath ₹2,775, there can bee a steeper fall to ₹2,600 and ₹2,500 over the following three months or just a little greater than that. So, if you wish to accumulate this inventory, you will have to attend. Purchase in small amount, say 40 per cent of what you propose to build up at ₹2,485. However the remainder of the 60 per cent at ₹2,630. Hold a stop-loss at ₹2,340.
A consolidation between ₹2,500 and ₹3,000 is a risk for a while. A powerful rise previous ₹3,100 thereafter will beef up the bullish momentum. It is going to then pave approach for a revisit to ₹4,000-levels. Transfer the stop-loss as much as ₹2,750 when the value strikes as much as ₹3,250. Transfer the stop-loss additional as much as ₹3,650 when the inventory touches ₹3,920. A powerful break above ₹4,000 can goal ₹4,600-4,800 over the following couple of years the place you may exit the inventory.
I’ve invested within the inventory of Indian Oil Company (IOCL). My purchase value is ₹120. How far can it fall farther from right here? What’s the outlook for this inventory?
Venkat Okay
IOCL (₹70.35): The short-term outlook is detrimental. There’s a hazard to see a fall to ₹50 from right here over the following two quarters. Thereafter, a recent leg of long-term rally can start. That rally may need the potential to take the refill in the direction of ₹140-150 over the following couple of years. In case you intend to carry this inventory for at the very least three years, then purchase extra at ₹60.
Buyers with a long-term perspective who need to enter this inventory afresh may also purchase at ₹60. Hold a stop-loss at ₹42. Transfer the stop-loss up ₹70 when the inventory strikes as much as ₹90. Transfer the stop-loss additional as much as ₹105 when the inventory reaches ₹115. Exit the inventory at ₹130. You’ll have to have a variety of persistence to carry this inventory.
What’s the outlook for the inventory of Venky’s (India)? Can it rise to ₹3,600 within the subsequent one 12 months?
David Martis
Venky’s (I) (₹1,990.75): The development is down. It seems to be extremely unattainable for the inventory to maneuver as much as ₹3,600 within the subsequent one 12 months. The reason being that the present downtrend has room to fall farther from right here. The primary help is close to ₹1,500. If the inventory breaks beneath it, a deeper fall to ₹900 can’t be dominated out. This fall can occur by this year-end or within the first quarter of 2023. Thereafter a recent rally can start concentrating on ₹3,300 over the following two years or extra.
Buyers with a long-term perspective can purchase 30 per cent of supposed quantity at ₹1,600. Purchase the remainder of the 70 per cent at ₹1,050. Hold a stop-loss at ₹840. Anticipate the goal of ₹3,300. Transfer the stop-loss as much as ₹1,100 as quickly because the inventory strikes as much as ₹1,800. Transfer the stop-loss additional as much as ₹2,400 when the inventory touches ₹2,850 on the upside.
Printed on
July 16, 2022
