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Stock Radar: Possibility of resumption in uptrend after consolidation makes this hotel stock attractive
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Indian Hotels, part of the hotel industry, was seen consolidating in a narrow range since June 2023, but a firm close above 400-405 levels could push the stock to a fresh 52-week high.The scrip hit a 52-week high of Rs 405 on 19th June 2023 but failed to hold on to the momentum.
It consolidated in a narrow range where Rs 400 acted as a strong resistance, while on the downside, support was above Rs 370.The support also corresponds with the 50-DMA
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