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Can I buy Cochin Shipyard now? What is the long-term outlook?
Riya, Kochi
Cochin Shipyard (₹1,915): The outlook is bullish. The stock has made a decisive breakout above the key resistance level of ₹1,680 earlier this month. It also confirms the rounding pattern formation on the chart. Also, the bounce from the low of ₹1,180 made in February this year is happening from around the 61.8 per cent Fibonacci retracement support.
Cochin Shipyard share price has potential to target ₹3,000 and higher levels in the coming months. You can buy the stock now. Accumulate on dips at ₹1,780. Keep the stop-loss at ₹1,420. Trail the stop-loss up to ₹2,080 when the price goes up to ₹2,260. Revise the stop-loss higher to ₹2,320 and ₹2,650 when the price touches ₹2,550 and ₹2,800 respectively. Exit the stock at ₹2,980.
I have bought Natco Pharma at ₹910. What is the long-term outlook?
M Anbalagan
Natco Pharma (₹880): The stock is on a downtrend since September last year. One more leg of fall to ₹650-600 is possible in the coming months before the stock finds a bottom. From a long-term perspective, a fresh rally from the ₹650-600 support zone can take Natco Pharma share price up to ₹1,400 over the next couple of years.
You can consider two options. First is to sell now with minimum loss and buy again at ₹680 and ₹630. Second option is to hold the stock now but accumulate at ₹680. In both cases keep the stop-loss at ₹460. Revise the stop-loss up to ₹800 when the price goes up to ₹1,050. Revise the stop-loss further up to ₹1,200 when the price touches ₹1,300. Exit the stock at ₹1,400.
What is the outlook for Inox Wind? Is this a good level to enter from a long-term perspective?
Dheeksha, Bengaluru
Inox Wind (₹185): The downtrend that was in place since September last year seems to have ended. The sideways consolidation since the beginning of this year indicates a bottom formation. Supports are now at ₹175 and ₹165, and then at ₹150. Inox Wind share price can rise to ₹270-280. You can buy the stock now.
Accumulate at ₹175 and ₹160 if there an intermediate dip. Keep the stop-loss at ₹130. Trail the stop-loss up to ₹190 when the price goes up to ₹220. Move the stop-loss further up to ₹210 and ₹240 when the price touches ₹230 and ₹260 respectively. Exit the stock at ₹280. The stock has to fall below ₹135 to prove this bullish view wrong. That looks unlikely.
What is the outlook for KNR Constructions? Can I buy the stock now?
Pravin A
KNR Constructions (₹225): The stock is now consolidating within its downtrend. From a big picture, there is still room on the downside for a fall to ₹160. Immediate resistance is around ₹250. A strong and sustained rise above ₹300 is needed to indicate a trend reversal and turn bullish for a rise to ₹450-500 from a long-term perspective.
On the chart, it looks like the fall to ₹160 can happen first before the trend reversal happens. So, wait for a fall and buy at ₹190 and ₹160. Keep the stop-loss at ₹115. Trail the stop-loss up to ₹210 when the price goes up to ₹260. Move the stop-loss further up to ₹310 and ₹370 when the price touches ₹360 and ₹410 respectively. Exit the stock at ₹450.
Send your questions to techtrail@thehindu.co.in
Published on May 24, 2025
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