Indian Hotels is finding it difficult to move up further. On a day when other scrips made impressive gains, Indian Hotels posted a high Rs 358 and closed at Rs 353.From the graph one can see that the scrip is failing to climb higher. The daily stochastic indicator has cut through its trigger line indicating a sell.
Book your profits now and take a fresh look at the scrip later. You must however keep in mind that the market as a whole is in an upmove. So selling should be done at the top end. You could also check if the price moves up above Rs.358. If it does then you could suspend the selling off for some more confirmation.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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