Astral (₹1,543.95)

Hovering near a support

Since April 2025, the stock of Astral has been appreciating along a rising channel. Although the price has dropped recently, this channel remains valid. In fact, last week, the stock formed a bullish pin bar candlestick pattern on the back of the support at ₹1,470, where the lower boundary of the channel coincides. The chart shows that the stock has seen good buying interest in the range of ₹1,470-1,525 since early April. Hence, the probability of a rally from the current level is high. Buy at ₹1,543 and accumulate at ₹1,470. Stop-loss can be ₹1,300. On a rally to ₹1,750 and ₹1,850, raise the stop-loss to ₹1,580 and ₹1,730 respectively. Exit at ₹2,000.

Carborundum Universal (₹1,056.10)

On a steady rise

The stock of Carborundum Universal has been in an uptrend over the last two months. After gaining 23 per cent in April, it has advanced 10 per cent so far this month. Consequently, it breached a crucial resistance band of ₹1,000-1,030, indicating a change in trend. While the price might see some moderation from the current level, the stock is expected to continue the uptrend and touch ₹1,300. Buy now at ₹1,056 and accumulate at ₹1,000. Place stop-loss at ₹890. When the stock goes up to ₹1,200, raise the stop-loss to ₹1,100. Tighten the stop-loss further to ₹1,180 when the price hits ₹1,250. Book profits at ₹1,300.

NTPC (₹388.45)

Rebound expected soon

The stock of NTPC, after hitting a eighteen-month high of ₹414.40 on April 27, has seen a moderation in price. However, this is likely to be only a corrective move rather than a trend reversal as the stock continues to make higher high and higher low. That said, the price might go further down to ₹370. But we expect the stock to eventually resume the rally and touch ₹480 in the medium-term. Therefore, traders can go long now at ₹388 and buy more shares at ₹370. Place stop-loss at ₹350 initially. When the price rises to ₹430, raise the stop-loss to ₹400. On a rally to ₹460, tighten the stop-loss further to ₹440. Liquidate the longs at ₹480.

Published on May 23, 2026