Buy Indian Hotels Company, target Rs 162: Abhishek Mondal

Abhishek Mondal

After making a short consolidation, Indian Hotels Company has given a breakout above Rs 141-142 levels on Monday with higher volumes.

The Daily Relative strength index (RSI) showing upward momentum and MACD is trading with positive crossover whereas (+) DI trading above (-) DI, which indicates that the stock has the potential to move higher.

Positional traders can buy the stock on dips at around Rs 142-145 with a stop loss below Rs 135 (closing) for the target of Rs 162.

Disclaimer: The author is Research Analyst, Guiness Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.