SHIPPING CORPORATION OF I NSE:SCI NDIA CMP: 208.80; RSI:48.50 As per wave analysis, ABC correction cycle is at its last stage and fomed a bottom. Its good time to accumulate the script, between Rs: 200 to 225 zone; stop loss: 187 Upside breakout will be confirmed once script closes above 238.5 Near Term Target 1: 280; (2 months time frame) Medium Term Traget 2 : 330-351 (4 months time frame)
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SCI, daily circuit has been changed to 20%, It should break the upper resistance (R1) of 238.15 in coming days; Once broken and SCI closes above the R1 with higher volumes, SCI march towards 280. Happy Investing
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Accumulate the script at every dip, soon the script will be out of time correction box & will march northwards. Those who wanted to take new position should buy in a range of 425-435, with a stop loss of 410.
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Stock is near to its completion of sideways consolidation, soon it will be out of consolidation box, and should be ready for the breakout. This is a suitable time for the new investor to make a position in the script, while existing investor can hold the position with strict stoploss of 187. New Investor can accumulate the stock in range of 195 to 205 range.