Three Stock Setups: Aurobindo Pharma, BEL, Trent Targets

A technical analysis from The Hindu Businessline highlights three stock trading setups for the coming week.

Aurobindo Pharma's stock rallied after finding support at ₹1,120 in February. It hit a high of ₹1,550 on May 21, then pulled back. Last week's second-half recovery signaled a resumption of the uptrend. The analysis targets ₹1,700 over the coming weeks. Recommended levels: buy at ₹1,493, accumulate at ₹1,425, with a stop-loss at ₹1,370. Tighten the stop to ₹1,500 at ₹1,580 and to ₹1,590 at ₹1,650. Exit at ₹1,700.

Bharat Electronics Limited rebounded 5.1% last week from ₹400 support. This marks the third bounce from that level since January, indicating buying interest at lower prices. The stock has faced resistance at ₹460-470 in previous rallies. A breakout above that band could lift the stock to ₹500, according to the analysis. The recommendation: buy at ₹427 and ₹415, stop-loss at ₹390. At ₹460, liquidate three-quarters of the position and raise the stop on the remainder to ₹440. Exit the balance at ₹500.

Trent's stock reversed from a two-year low of ₹2,184.07 in April and has been climbing since. After a sideways move from mid-April, it broke out of ₹2,970 resistance last week, confirming an inverted head and shoulder pattern. The pattern suggests a bullish trend reversal targeting ₹4,000 in the coming months. Recommended: go long at ₹3,204, buy more at ₹2,970, with a stop-loss at ₹2,600. Raise the stop to ₹3,380 at ₹3,600 and to ₹3,700 at ₹3,800. Exit at ₹4,000.

These setups align with broader market trends covered in the stock market analysis.