PI­RA­MAL EN­TER­PRISE

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I have bought shares of PEL at Rs 2810 in Au­gust, but the stock is trad­ing around the same level. What should I do?

EXIT PI­RA­MAL EN­TER­PRISES BE­LOW RS 2660

- Aashok Chan­dra PEL is cur­rently trad­ing at Rs 2835. Its 52-week high/low stand at Rs 3083.05/Rs 1377.50 made on June 13, 2017 and Novem­ber 15, 2016, re­spec­tively. PEL gave a break­out at Rs 2810 level, but could not sus­tain and re­treated back to the cur­rent level. Cur­rently, PEL holds a kind of mul­ti­ple re­sis­tance break­out at Rs 3000-3025 lev­els on a clos­ing ba­sis. How­ever, poor vol­umes and 14-pe­riod RSI quot­ing at 54 de­picts lack of mo­men­tum in the stock for now. The Rs 2925-2930 lev­els may give some mo­men­tum to the stock. Hence, we sug­gest you to hold and exit the stock be­low Rs 2660-2640 lev­els, as be­low that, the stock has sup­port at Rs 2530.

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