ICICIdirect.com's research report on Thomas Cook (India)
The share price of Thomas cook is poised for resumption of its larger up trend after consolidation near key price support. We, therefore, believe that stock offers decent risk-reward to enter the next up leg ahead of the Union Budget.
The robust price structure in the stock is gauged from the fact that price rallies are faster while corrections are time consuming. Such price behaviour necessarily highlights the corrective nature of the price decline as the stock price works out of overheated conditions.
The robust price structure in the stock is gauged from the fact that price rallies are faster while corrections are time consuming. Such price behaviour necessarily highlights the corrective nature of the price decline as the stock price works out of overheated conditions.
Based on the above technical parameters, we believe the stock is set for its next up leg within the larger up trend. We expect the stock to head towards Rs 221 being the 123.6% retracement of recent decline (216-189), thereby providing a decent reward-risk set-up from a medium-term perspective.
Strategy: "Buy Thomas Cook in the range of Rs 192.00-197.00 for a target of Rs 221.00 with a stop loss below Rs 180.00 on a closing basis", says ICICIdirect.com research report.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
