We have covered this stock in our last analysis,
Stock remained in the range for 6.2-8 in past 21 trading sessions volumes have been increasing in past few sessions suggesting a breakout on cards and today finally closed above 8. Stock has seen the Highest closing in past 4 years, High made was 7.90 on Sep 2012.
As the Volumes have increased and stock has finally closed above 8 with mometum in the favour of the stock suggesting we can see a fast move in coming few session.
Always remember Golden Rule of market 80% of the move in done in 20% of time.
As per Below chart,
Traders can take long in range of 8-8.2 with SL of 7.7 and Target of 9.2-9.5.
The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity.
I could see this is listed in BSE only , correct me if I am wrong
yes ur right
Brameshji, excellent work. Technically you are correct. The stock may give 20% or even more in the short term, however, the promoter share holding is 23.97% which makes the company dicey. Some operator must have cornered the shares and now will start off loading the same to general public who will get stuck for god knows how many years.
To hide the weakness trader use word operator market is manipulated.. No one is forcing anyone to take trade.. Stop giving excuses and start doing the proper homework, MOney will follow..
thank you for the analysis and guidance sir.
Excellent sir ji