Coupon of AIA Mechanics, broke out of the key resistance at ₹2,850 a few weeks ago and since then, it has been steadily increasing. On Wednesday, it closed at ₹2,968. The daily shorter time frame price action shows the scenario movement like an ascending triangle. This also indicates that the probability is high on Thursday, making it a good stock for day trading. Traders can buy the shares now for Rs 2,968 and buy more if the price drops to Rs 2,942. Set stop loss at ₹2.920. Once the price exceeds ₹3,000, modify the stop loss to ₹2,970. Take profit when the stock reaches ₹3,025.
(Note: Recommendations are based on technical analysis. There is a risk of loss in trading.)
