Buy Royal Orchid Hotels, stocks likely to head towards Rs 259: Dharmesh Shah

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26 Aug, 2025 12:21

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Dharmesh Shah

The share price of Royal Orchid Hotels has recently registered a bullish flag breakout with the strong volume of almost 10 times the 50 weeks average volume of 6 lakhs share per week thus offering a fresh entry opportunity to ride the next up move in the stock.

The stock has recently rebounded from the major support area of Rs 170 being the confluence of:

The rising 50 days EMA currently placed at Rs 155 levels

The 50 percent retracement of previous major up move from Rs 100 - 229

Among oscillators, MACD indicator continued its northbound journey and is seen diverging from its signal line indicating strong momentum.

We expect the stock to maintain positive bias and head towards Rs 259 levels being the 138.2 percent retracement of the previous decline (Rs229 -157)

Disclaimer: The author is Head Technical, AVP at ICICI Direct.com Research. 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.