Godawari Power and Ispat (₹256.45)
In steady uptrend
The stock of Godawari Power and Ispat has been in a steady uptrend since mid-August. Early this month, it broke out of a resistance at ₹240, opening the door for further rally. Nevertheless, before the next upswing, the stock is likely to witness a corrective decline to ₹245.
Therefore, participants can consider buying the stock now at ₹256 and add longs when the price dips to ₹245. Place initial stop-loss at ₹230. When the stock rises to ₹280, trail the stop-loss to ₹255. Tighten the stop-loss further to ₹270 when the price reaches ₹290. Liquidate the longs at ₹300.
ICICI Lombard General Insurance Company (₹1,894.40)
Forms a base
ICICI Lombard General Insurance Company has been in a downtrend since July. However, the price action since the beginning of this month hints the bears have lost momentum; there are signs of a base formation. Also, the broader trend is bullish. Therefore we expect the stock to resume a fresh leg of rally, which can take it to ₹2,160 in the medium term.
So, buy the stock now and accumulate at ₹1,850. Place stop-loss at ₹1,800. When the stock reaches ₹2,050, tighten the stop-loss to ₹1,950. Raise the stop-loss to ₹2,020 when the price hits ₹2,100. Exit at ₹2,160.
Tata Consumer Products (₹1,118.95)
Breaks out of a channel
The stock of Tata Consumer Products has been declining since May. It has been dropping along a downward channel. But a couple of weeks ago, the scrip broke out of the channel. While there has not been a follow-through rally, we expect the stock to see a minor decline in price from the current level and then resume the uptrend.
Traders can buy the stock now at ₹1,118 and accumulate if the price dips to ₹1,100. Place initial stop-loss at ₹1,080. When the stock appreciates to ₹1,175, revise the stop-loss to ₹1,145. Raise the stop-loss to ₹1,175 when the price touches ₹1,200. Book profits at ₹1,225.
Published on September 27, 2025