I want to buy shares of D-link India. Is the CMP the right entry level?
- Govardhana Reddy
AVOID D-LINK (INDIA)
D-Link India is currently trading at Rs 107. Its 52-week high/low stand at Rs 154/75.25 made on April 10, 2016 and September 21, 2016, respectively. The stock is almost trading sideways after a gap-down opening on May 15, 2017. The lower volumes and 14-period RSI trailing at 52 suggest lack of momentum in the stock. Moreover, the stock is trailing at upward sloping trendline support level. In case the stock falls below Rs 102.50 level, it can fall further. The stock has failed to sustain above Rs 106 level on a closing basis, despite attempting a breakout. Hence, we suggest to avoid it for now.