Signs of bullish reversal
After being in a long-term downtrend, the stock of Akums is now showing signs of reversal in trend. If not a long-term trend reversal, the scrip is likely to witness a rally over the medium term. The price action since July last year shows that from forming lower lows and lower highs, the stock has now started to form higher highs and higher lows.
The chart shows formation of a good base at ₹460. The stock is likely to begin a fresh rally which can lift it to ₹600. Buy at ₹483 and at ₹460. Place stop-loss at ₹425. When the price raises to ₹550, tighten the stop-loss to ₹520. Liquidate the longs at ₹600.
Ather Energy (₹783.25)
Hits new highs
The stock of Ather Energy hit a fresh high of ₹795.90 on Friday before closing at ₹783.25. Last week, it gained nearly 11 per cent and broke out of a key resistance at ₹750, which has been blocking the uptrend since October last year. In the upcoming sessions, there could be a price drop to ₹750.
But the uptrend can resume after this and the stock can rally to ₹950 over the medium-term. So, traders can consider buying this stock now at ₹783 and on a dip to ₹750. Place stop-loss at ₹680 at first. Raise the stop-loss to ₹775 and ₹850 when the price rallies to ₹850 and ₹900 respectively. Book profits at ₹950.
Jindal Steel (₹1,187.30)
Uptrend to resume
The stock of Jindal Steel, after hitting a life-time high of ₹1,270 last month, has seen a moderation in price. From the current level, there could be further decline in price. But it is likely to be arrested at ₹1,090, a strong base where a long-term trendline support coincides.
Considering the prevailing price action, the stock can resume the rally from either the current level or after dropping to ₹1,090. Once the uptrend begins, the price can surpass prior high and go up to ₹1,400. So, buy now at ₹1,187 and ₹1,100. Stop-loss can be ₹1,050. Alter the stop-loss to ₹1,240 when the price hits ₹1,300. Exit at ₹1,400.
Published on March 21, 2026