The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Take Fresh Entry above 278 closing in Nitin Spinners. The targets will be 294 and 306 for now. Keep a trailing stop loss at closing below 230. MFs are increasing holding in the stock. FII are increasing hold in the stock dramatically. EPS of the company increasing. Zero Promoter Pledge. PE is 5.3 so the valuations are excellent. Only negative is cost on projects...
Taken support from trend line of Aug 2015 on 15 November and bounced back, anytime if falls more 252 gonna be its first support following by trendline from Aug 2015, current P.E. < Ind P.E, given 422.81% return in last 1 year, FII increased its stake in recent quarter, above ema20, all indicates a good buy option once market is positive.