Tech Query: Bharat Forge, Hatsun Agro Products, NRB Bearings, Sandur Manganese & Iron Ore - What is the outlook? Where are these stocks headed?

I have Bharat Forge shares. My average purchase price is ₹735. Can I continue to hold or book profit?

Bharat Forge (₹1,976): The recent fall from the high of ₹2,293 is happening from around a strong long-term trendline resistance. This gives an early sign of top formation. Immediate resistance is around ₹2,000. Above that, the ₹2,050-₹2,080 region is the next strong resistance. A decisive rise above ₹2,080 is needed to turn the sentiment positive and go back up to ₹2,200-₹2,300 levels. But such a rise looks less likely. The bias is negative. There is room for a fall to ₹1,750-₹1,700 and even ₹1,620-₹1,600 in the next two-three months. So, it is better to exit the stock here and book profits. Whenever you enter any trade, identify major resistances and have a specific target. This will help to exit a trade before any major reversal happens.

I have bought Hatsun Agro Products at ₹1,067. What is the outlook? Can I continue to hold or exit?

Hatsun Agro Products (₹1,139): The stock is stuck inside a wide range of ₹730 and ₹1,380 for more than four years. Within this, the price is coming down after touching a high of ₹1,350 earlier this month. This indicates that the broader sideways range is still intact. Immediate support is at ₹1,135. A break below it can drag the price lower to ₹1,035 initially. It will also keep the downside open to see ₹900-₹800 levels. A sustained rise above ₹1,400 will confirm the bullish range breakout. Such a break will clear the way for a fresh rally to ₹2,000 in the long term. For now, you can exit the stock. You can consider re-entering this stock again once a bullish breakout above ₹1,400 happens.

What is the long-term outlook for NRB Bearings? I have bought this stock at ₹266. Should I exit?

NRB Bearings (₹526): The stock has surged on Friday. It hit a new high of ₹535 and has closed higher. Support is at ₹450 which is holding very well. The outlook is bullish. There is potential to see ₹630-₹650 on the upside from here. Keep a stop-loss at ₹430 and hold the stock. Move the stop-loss higher to ₹490 when the price goes up to ₹570. Revise the stop-loss higher to ₹520 and ₹570 when the share price touches ₹590 and ₹605, respectively. Exit the stock at ₹630. The stock has been very volatile recently. So, if the price falls below ₹450, adhere to the stop-loss strictly and exit the stock. A subsequent fall below ₹420 will increase the danger of seeing ₹360 and lower levels.

I have Sandur Manganese & Iron Ore shares. My purchase price is ₹220. What is the outlook?

Sandur Manganese & Iron Ore (₹185): The stock seems to be struggling to get a sustained rise above ₹240. A crucial support is around ₹170. A break below it will indicate a bearish trend reversal. In that case, the share price can fall to ₹145 initially. A further break below ₹145 can then see the price tumbling towards ₹115. To avoid this fall, the stock has to sustain above ₹170 and rise past ₹220. Only then it will get a breather. Also, a sustained rise above ₹240 is needed for the share price to go up towards ₹300 and higher. Since there is a danger of breaking below ₹170, it is better to exit the stock and accept the loss.

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