Asahi India Glass (Rs.166.2): On Friday, the stock of Asahi India Glass skyrocketed almost 10 per cent with good volume, decisively breaking a long-term resistance level at Rs.154. It is in an uptrend across all time frames — long, medium and short-term.
The stock hovers well above its 50- and 200-day moving averages. The long-term outlook will stay bullish as long as the stock trades above Rs.80. Investors with a long-term horizon can hold the stock with a stop-loss at Rs.80.
Medium-term investors can stay invested with a stop-loss at Rs.115 levels. The stock can extend its rally to reach Rs.180 and then Rs.200 in the medium term.
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