Bharat Forge (₹1,222.40)
Forms higher high
The stock of Bharat Forge has been rallying for the past two weeks. It bounced off the support at ₹1,100 and has now moved past a barrier at ₹1,200, thus forming a higher high. While the price might see some moderation, possibly to ₹1,180, the stock is likely to resume the uptrend. The scrip can appreciate to ₹1,450 over the medium term.
Therefore, traders can buy the stock now at ₹1,222 and accumulate at ₹1,180. Keep the stop-loss at ₹1,090. When the price touches ₹1,350, alter the stop-loss to ₹1,280. Tighten the stop-loss to ₹1,350 when the stock hits ₹1,400. Exit at ₹1,450.
Cochin Shipyard (₹1,746.20)
Inverted head and shoulder
The stock of Cochin Shipyard gained 5.7 per cent last week. Notably, the price action over the past month resembles an inverted head and shoulder pattern. This chart set-up is an indication of a bullish trend reversal. While only a rally past ₹1,760 will confirm the pattern, given the prevailing momentum, the stock can rise past this level.
In the near term, the scrip can rally to ₹1,960. Therefore, traders can go long at ₹1,746 and at ₹1,675. Place stop-loss at ₹1,580. Revise the stop-loss to ₹1,750 when the stock touches ₹1,850. Trail the stop-loss to ₹1,820 when the stock touches ₹1,900. Book profits at ₹1,960.
IGIL (₹369.45)
Surpasses a resistance
The stock of IGIL (International Gemmological Institute India Ltd) has been charting a broad sideways trend since April. It has been oscillating between ₹330 and ₹410. Within this broad range, the stock has now surpassed a resistance at ₹358. This has opened the door for the stock to retest the upper boundary at ₹410 in the short term.
Therefore, traders can buy the stock at ₹369 and accumulate at ₹345. Place a stop-loss at ₹325. When the price hits ₹390, revise the stop-loss higher to ₹370. Move the stop-loss further higher to ₹385 when the stock reaches ₹400. Liquidate the longs at ₹410.
Published on September 13, 2025
