ITC demerger: 7 hotel stocks with up to 15% upside potential as per charts

Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.

The stock exchanges - the BSE and NSE -  conducted a special one-hour trading session on Monday, January 06, 2025, for price discovery of ITC Hotels share as per the record date set by ITC for the hotel business demerger.  The special one-hour trading session was conducted from 9 AM - 10 AM today. Post the special trading session, ITC stock started trading for the day at Rs 455 - down 5.4 per cent compared to its previous trading sessions. ITC had set a demerger ratio of 1:10 - meaning 1 share of ITC Hotels for every 10 shares of ITC as of the record date January 6, 2025. Post demerger, ITC will continue to hold 40 per cent equity stake in the Hotel business.  ITC Hotels stock is likely to be listed on the stock exchanges around mid-February; till such time the stock will be traded as the 51st stock in the Nifty 50 index and the 31st stock in the Sensex 30 for the purpose of calculating the index values.    Meanwhile, hotel-related shares were trading with a negative bias, falling up to 5 per cent in an otherwise volatile market. Asian Hotels was the top loser, down 5 per cent. Kamat Hotel, ROHL, ITDC, EIH and Oriental Hotels were the other major losers. In comparison, the Sensex was down 0.2 per cent or 150 points at 79,075; and the Nifty shed 0.3 per cent at 23,940 levels.  Based on the existing technical chart patterns, here are 7 stocks from the hotel industry that look promising at current levels.  Mahindra Holidays and Resorts India (MHRIL)  Current Price: Rs 369  Upside Potential: 13.8%  Support: Rs 350  Resistance: Rs 386; Rs 404  MHRIL is seen trading in a fairly oversold zone on the medium-term time-frame. Even as the short-term chart structure looks unfavourable, a pullback towards Rs 420 seems likely given the oversold conditions. For now, the support at Rs 350 holds the key for the stock. On the upside, resistance for the stock can be expected around Rs 386 and Rs 404 levels. CLICK HERE FOR THE CHART      Advani Hotels  Current Price: Rs 69.75  Upside Potential: 12.7%  Support: Rs 69; Rs 67.40; Rs 65.20  Resistance: Rs 72.40; Rs 73.50  Select momentum oscillators have turned favourable for Advani Hotels on the daily and weekly charts. The stock can potentially attempt a pullback to Rs 78.60 levels; with interim resistance seen at Rs 72.40 and Rs 73.50 levels. In case, of a dip, the stock is expected to seek support around Rs 69 and Rs 67.40 levels. The near-term bias is likely to remain cautiously optimistic as long as the stock trades above Rs 65.20. CLICK HERE FOR THE CHART  Apollo Sindoori Hotels  Current Price: Rs 1,781  Upside Potential: 12.3%  Support: Rs 1,752; Rs 1,683  Resistance: Rs 1,885; Rs 1,940  Apollo Sindoori Hotels stock is seen attempting to reclaim its short-term moving averages after a gap of nearly one month. Break and sustained trade above Rs 1,785 shall augur well for the stock. On the upside, it can potentially soar to Rs 2,000-mark; with intermediate resistance at Rs 1,885 and Rs 1,940 levels. The bias for the stock is likely to remain positive as long as the stock holds above Rs 1,752; below which key support for the stock exists at Rs 1,683. CLICK HERE FOR THE CHART  EIH  Current Price: Rs 422  Upside Potential: 7.8%  Support: Rs 419; Rs 415; Rs 392  Resistance: Rs 437  EIH is seen consolidating above its short-term moving average in the last few trading sessions. The 20-day DMA (Daily Moving Average) at Rs 419 and the 200-DMA at Rs 415 are the immediate support levels for the stock. Below which, the stock can fall to Rs 392. On the upside, the stock can spurt to Rs 455 with interim resistance seen at Rs 437. CLICK HERE FOR THE CHART    ITDC (India Tourism Development Corp)  Current Price: Rs 700  Upside Potential: 8.6%  Support: Rs 687; Rs 660  Resistance: Rs 715; Rs 740  ITDC stock is seen trading above its long-term 200-day DMA for the second straight trading session after a gap of more than three months. The stock had broken below the 200-DMA on September 25, 2024. Present chart suggests the stock can potentially jump to Rs 760 levels; with interim resistance likely around Rs 715 and Rs 740 levels. On the downside, the 200-DMA at Rs 687 followed by the 100-DMA at Rs 660 can provide support for the stock. CLICK HERE FOR THE CHART  Oriental Hotels  Current Price: Rs 179  Upside Potential: 10.6%  Support: Rs 177  Resistance: Rs 184; Rs 194  Oriental Hotels stock is seen consistently seeking support around its 20-WMA (Weekly Moving Average) for the last three weeks. The stock has respected this key medium-term support, which now stands at Rs 177, since mid-August. As long as this support is held, the stock can attempt a pullback to Rs 198 levels; with interim resistance likely around 184 and Rs 194 levels. CLICK HERE FOR THE CHART  TAJ GVK Hotels and Resorts  Current Price: Rs 440  Upside Potential: 15%  Support: Rs 428  Resistance: Rs 465  TAJ GVK Hotels has been a stark outperformer; the stock has rallied by nearly 52 per cent since the end of October. The overall bias for the stock is likely to remain positive as long as the stock trades above Rs 426. On the upside, the stock can potentially surge to Rs 507 with interim resistance expected around Rs 465. CLICK HERE FOR THE CHART