Technical Stock Pick: Indian Hotels hits a fresh record high in January 2024; likely to cross 500 in next 3-4 weeks

Indian Hotels Ltd, part of the hotel industry and owned by Tata Group, has rallied over 12% in a month to reach a fresh record high in January 2024. Short-to-medium-term traders can consider buying the stock now with a target of more than 500 in the next 3-4 weeks. The stock rose from Rs 424 to Rs 479 in a month, showing an upside of nearly 13%. It is trading in an upside channel on the weekly charts since 2020-21, indicating a positive trend. The stock has strong momentum and potential for further upside.

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