IHCL Turnaround Brewing? SEBI RA Deepak Pal Sees Breakout Soon

Indian Hotels Company (IHCL) shares may have recovered from a recent correction and could be heading to the ₹775–₹780 range in the coming sessions, according to SEBI-registered analyst Deepak Pal.

On the technical front, IHCL recently witnessed a breakdown, breaching its 20-day and 50-day Exponential Moving Averages (EMAs), which indicated short-term weakness, Pal said.

But last session's price action has brought some relief to the bulls.

The stock opened at around ₹742 and slipped to an intraday low of ₹735, where it found strong buying support, pushing the price higher throughout the day.

Eventually, the stock closed 2.75% higher at ₹756 on Monday.

Crucially, the stock is now hovering near its 200-day EMA, a significant long-term support level, Pal added. This suggests that the recent corrective phase might be nearing its end.

The analyst said that the ₹740 level has emerged as a key support zone, and a prolonged move above the current price of over the ₹750 mark could lead to a short-term pullback.

Pal said if the price holds above the 200-day EMA, the stock could potentially climb towards the ₹775–₹780 range in the near term.

IHCL, which operates the iconic Taj brand, remains one of the most fundamentally strong players in India's hospitality sector, according to the analyst.

The company has seen consistent revenue and profit growth and maintained healthy EBITDA margins through an asset-light expansion strategy.

With India's tourism sector seeing a significant uptrend, Pal said IHCL is well-positioned to benefit from rising demand for luxury and business travel. The stock currently trades at premium valuations.

Year-to-date, the stock has fallen nearly 14% as of Monday's close.

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