Apart from that, fundamentally, the company`s quarterly results were the cause for the major plummet from mid 200 to the current levels and prior to that the push was based on optimism from RBI giving green signal and again in DEC 2018/ Jan Mid 2019, there was a push in the stock from 180 to 245 based on previous CEO stepping down and being replaced. Hence, this stock is best for those who love because the opportunity is there on both sides and you can tame it well when you know major levels on the stock. However, I am not interested in going short from these levels and I will be buying the dips on every support I can see from here..
this is purely a positional trade and this could take 6 months to a year.
First Entry: 128-130 looks good but not promising. Still, to have a taste of it, I would have a minor exposure around that area but given the political situation in India and the coming up, I am expecting one dip for Institutions to load heavy from sub 110 levels. Hence, that's the spot, I will be having major exposure and I will keep on adding until I00.
Overall, I am looking for 5000 shares @ that price. hence, a start of 500 will be a pure test @ 128. Good luck ! you don't get the price so cheap.
P.S.: I have also heard rumors from Institutional bookmakers that this stock is headed for 750-800 levels in the next 24 / 36 months but for now, let's focus on the current Price action.