The stock of Cholamandalam Investment and Finance Company has been in a steady uptrend since early September. It rebounded from the support at ₹1,415. On Wednesday, the scrip decisively broke out of the resistance band of ₹1,640-1,650. Notably, this barrier has been blocking the bulls over the last year. So, the breakout is a considerable bullish sign. We expect the stock to rally to ₹1,850 over the medium-term and buying at current level will give participants a good risk-reward ratio. So, we suggest buying now at ₹1,668 and accumulate in case the price dips to ₹1,620, its 21-day moving average. Stop-loss can be ₹1,550. When the stock touches ₹1,750 and ₹1,800, revise the stop-loss to ₹1,680 and ₹1,750 respectively. Book profits at ₹1,850.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on October 17, 2025
