Technical Analysis: CRISIL, Metropolis Healthcare and Triveni Turbine

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CRISIL (3897.80 SAR)

The uptrend is likely to resume

CRISIL stock started its latest bullish phase at the end of December 2022 after finding support at $2,750. In the first week of June, it broke a crucial barrier of $3,780. It is currently trading at $3,905 thus, the stock is able to sustain the breakout, which is a bullish sign. However, there is a possibility that the price will drop to $3,780 before the next rally occurs.

CRISIL share price could reach $4,200 in the medium term. Therefore, one can consider starting long positions now at around INR 3,898. Accumulate if the price drops to INR 3780. Place the stop loss at $3,650. When the stock goes above $4,020, tighten the stop loss to $3,880. Further tighten the stop loss to $4,000 on the rise to $4,100. Liquidation at $4,150.

Metropolis Healthcare (Rs. 1,493.8)

Uptrend reversal

Metropolis Healthcare stock has been on a downward trend between January and December 2022, with the price dropping from around Rs 3,450 to INR 1,300. However, the bears have lost traction, and since early 2023, the stock has been in the sideways range of ₹1,200 and ₹1,400. But in June this year, Metropolis Healthcare closed above Rs 1,400, which could turn the bullish trend.

According to the charts, the stock could rise to Rs 1,700 in the medium term. So, one can buy it now at around INR 1,494. Add more buy deals in case the price drops to INR 1420. Keep your initial stop loss at $1,360. When the stock crosses the key level at $1,600, adjust the stop loss up to $1,525. Tighten your stop loss order to INR1,590 on a rally to INR1,650. Check out at INR 1,700.

Triveni Turbine (405.9 INR)

in the ascending support channel

Triveni Turbine stock, which is in a long-term bullish trend, has faced some downward pressure over the past two weeks. After hitting a high of €430.5 on June 19, the stock is now moderate to around €406. However, there is no threat of an overall bullish bias. The recent price action shows that the stock is moving within an upward channel.

Since the stock is now trading near the bottom of the ascending channel, the potential for an upside is high. Therefore, one can buy Triveni Turbine shares now at around Rs 406. Buy more if the price drops to INR 390. Place your initial stop loss at INR 380. When the stock rises above $415, revise the stop loss up to $400. Book profit at ₹430.