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Technical Analysis of Aditya Birla Capital, Divi’s Laboratories, and Mastek Stocks – Trends, Forecasts, and Strategies

Aditya Birla Capital (₹163.8)

Retests a support

Aditya Birla Capital’s stock saw its latest leg of uptrend begin in June last year by taking support at ₹90. Towards the end of April this year, it successfully breached the ₹155-160 resistance band. However, after touching ₹175 a couple of weeks ago, it has now moderated to nearly ₹164. Yet, the broader trend remains bullish.

This price dip is only a corrective decline. So, we forecast the stock to regain traction and then set off for a journey northwards, potentially to ₹200. Given this, we suggest buying the stock now and on a decline to ₹155. Keep the stop-loss at ₹145 initially. When the price of Aditya Birla Capital’s share crosses over ₹175, alter the stop-loss to ₹160. On a rally to ₹190, tighten the stop-loss to ₹178. Book profits at ₹198.

Divi’s Laboratories (₹3,097.8)

Bears make a strong comeback

The stock of Divi’s Laboratories, which has been in a downtrend since October 2021, saw its price appreciate over the past couple of months. However, last week, it faced a sharp sell-off on the back of the resistance band between ₹3,300 and ₹3,350. This has increased the chances of further decline in price, especially considering that the overall trend remains bearish.

We expect the price to drop to ₹2,800 in the short term. Therefore, one can initiate short positions now and also on a rally to ₹3,270. Keep initial stop-loss at ₹3,370. When the price drops to ₹3,000, modify the stop-loss to ₹3,175. Tighten the stop-loss further to ₹3,020 when the stock touches ₹2,900. Book profits at ₹2,800.

Mastek (₹1,890)

Trend turns bullish

Mastek’s stock broke out of a critical resistance at ₹1,800 last week. This has reversed the trend to upside. Although there are barriers at ₹2,080 and ₹2,175, the chart suggests more potential. We anticipate a rally which can lift the price to ₹2,400 in the next two-three months. Hence, buy the stock now at around ₹1,890. Add more shares if the price dips to ₹1,800. Place initial stop-loss at ₹1,675. When the scrip surpasses ₹1,950, tighten the stop-loss to ₹1,820.

Thereafter, raise the stop-loss to ₹1,980 when the price goes above ₹2,080. Risk-averse traders can exit all the longs when Mastek’s share price touches ₹2,175. Traders who can take more risk, liquidate only 50 per cent of the longs at ₹2,175. But for the leftover longs, tighten the stop-loss to ₹2,050. Exit the remaining at ₹2,400.



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