Can I buy shares of PC Jeweller? - Varun Goyal
AVOID PC JEWELLER FOR NOW
PC Jeweller is currently trading at Rs.318. Its 52-week high/low stand at Rs 395.80/Rs 144.38 made on August 22, 2017 and November 15, 2016, respectively. Considering the weekly time frame, the stock has been making higher tops with multiple bottoms at Rs 300-290 levels, making a megaphone pattern. The stock broke down from the pattern, but witnessed a pullback. The stock retraced up to 38.2% level of the prior sharp downside on a closing basis, and yet again it has started correcting from those levels. Hence, we suggest you to avoid the stock for now but risk takers can enter the stock above Rs 396 level.