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    Stock Radar: Indian Hotels rallies over 70% in 1 year to hit fresh record high; time to buy or book profits?

    Short-term traders can look to buy the stock now or on dips for a target of Rs 685 in 3-4 weeks, suggested experts.

    Synopsis

    In a remarkable turnaround, the hotel stock surged from ₹380 on June 23, 2023, to ₹649 on June 26, 2024, a staggering 70% increase within a year. However, the rally lost some steam in the latter half, peaking at ₹602 in February 2024 before facing resistance. The stock subsequently consolidated within a range, finding support at ₹480-500 and facing resistance at ₹600-622.

    Indian Hotels rallied over 70% in 1 year and the chart pattern suggests that the rally may not be over yet.Short-term traders can look to buy the stock now or on dips for a target of Rs 685 in 3-4 weeks, suggested experts.The hotel stock rose from Rs 380 as on June 23, 2023, to Rs 649 recorded on June 26, 2024, which translates into an upside of 70% in a year.The rally fizzled out slightly in the last 6 months when the stock hit a high of 602 in
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