Indian Hotels Co. Ltd. Favorite of Traders and Investors few years Back and a TATA Group Company,
The Company is One of the Best Companies in Hotel Industry and is impacted by Good Tourism and good Economy. The Stock is moving in an uptrend after the breakout from Falling Trend in Dec 2013. After that breakout, stock has never looked back. It was around 50 levels in the stock. While moving up the Stock has formed an Inverted Head and Shoulder Pattern over a Very Long Duration which started somewhere in June 2008 and completed in January 2016, Then the price was not ready to move up immediately, it reversed to take support on Rising Trendline Support and then again moved up to pierce the Neckline at around 125 level Simultaneously Completing a triangle move to confirm and support our theory of inverse head and shoulder.
Needs to sustain above 125 for next week and we can see a good breakout move soon...
The Conclusion is
BUY INDIAN HOTELS CO. LTD. Around 125-130 with Stoploss around 112 and takeprofit around 170 - 220 and more.
Disclaimer:
The Analyst does not hold any positions or does not have any vested interest in the recommended stock. Follow Strict Risk Management and Consult your Investment Advisor for more details.
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The Analyst is a SEBI Certified Investment Advisor, Global Market Expert and Fund Manager for Clients across the World. He is having experience of 8 years in Indian Equity Market and Similar experience in Global Market.
