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I have shares of Tata Steel. My average price is ₹112. Given the uncertainty prevailing over the tariffs, should I continue to hold the stock or exit?
Dibyajyoti, Hyderabad
Tata Steel (₹154): The outlook is bullish. Charts indicate that there is no threat from the tariff front. So, going by the charts, you can continue to hold the stock. The recent rise from the low of ₹122.60 made in January this year marks the end of the fall that was in place since mid-June last year. Supports are at ₹147, ₹142 and then between ₹127 and ₹124.
Tata Steel share price can rise to ₹195 over the next three to five months. From a long-term perspective, Tata Steel stock has potential to target ₹250 in a year or two. Keep a stop-loss at ₹118 and hold the stock. Revise the stop-loss up to ₹165 when the price goes up to ₹190. Move the stop-loss further up to ₹210 when the price touches ₹230. Exit the stock at ₹250.
I have bought Kalyan Jewellers at ₹540. What is the long-term (3 to 5 years) outlook?
Kishore
Kalyan Jewellers (₹467.15): The stock has tumbled about 40 per cent since the beginning of this year. The trend is still down. Resistance is in the ₹540-550 region. As long as the stock trades below this resistance, a fall to ₹380-360 is possible. The price action thereafter will need a close watch. A break below ₹360 will be bearish to see ₹320 on the downside.
If the stock manages to sustain above ₹360, there are chances to see a recovery towards ₹600 in the coming months. Also, this recovery could happen gradually and can take time. As the chances are high to see more fall, we suggest you accept the loss and exit now. Reinvest the sale proceeds in Tata Steel as mentioned and follow the same strategy.
What is the outlook for Suzlon Energy?
Abishek, New Delhi
Suzlon Energy (₹56.60): The stock has been in a strong downtrend since mid-September last year. There is no sign of a reversal yet and the downtrend remains intact. Resistance is around ₹65. The stock has to rise past this hurdle to become convincingly bullish again. Only then, a rise to ₹100 and higher levels will come into the picture.
As long as the stock trades below ₹65, there are good chances to see a fall ₹45-43 in the coming months. Failure to sustain above ₹43 may increase the danger of the stock tumbling to ₹35 and lower. So, this may not be the right time to enter the stock. You may have to wait for it to breach ₹65 to buy this stock. Until then it is better to stay out of this stock.
I am holding shares of Indian Overseas Bank (IOB) bought at ₹72. What is the outlook?
Sachin, Mumbai
Indian Overseas Bank (₹39): The stock has been coming down consistently since August last year. There is support near current levels at ₹36. A bounce from there and a rise above ₹51 will mark the end of the current downtrend. That can take IOB share price up to ₹80-85. Considering the historical movement, this rise, if seen, may take about a year.
On the other hand, if the stock breaks below ₹36, an extended fall to ₹27 can happen. If you have the patience to wait for a year and the risk-appetite, buy more now. Keep the stop-loss at ₹34 and wait for the rise to exit at ₹85. Else, exit now. If you decide to hold the stock, revise the stop-loss up to ₹50 when the price goes up to ₹58. Move the stop-loss further up to ₹65 when the price touches ₹73.
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