One of the few stocks which have not shown strength in this bull market. Its in a current hot sector (Natural Gas) Over the past month for the first time in a v v long time promoter has been buying non-stop over the past 1 month and has pumped in 35cr into buying more stock. There is also a positive divergence on the daily RSI and support around the 200WEMA. There is also a key fibo level around 240 where it hasn't closed below on the weeklies.
Long at current price 243.50.. SL below 225. (For more aggressive traders SL could be around 234)
This one is for those that like bottom fishing. Would not allocate more than 5% to this stock coz there is no strength thus far.
Decent company, decent results in last quarter, still it come down to such a level...
I am just little worry about some sort issue inside the company which is offcourse retail don't know..
That's why not buying otherwise u have pointed out that Rsi , mfi is showing positive divergence.
rdkriplani
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@AnuragBhakuni, Started falling post them merging their storage business with an MNC..market didn't like the valuations they got on the deal.
I am just little worry about some sort issue inside the company which is offcourse retail don't know..
That's why not buying otherwise u have pointed out that Rsi , mfi is showing positive divergence.