PC JEW­ELLER

Can I buy shares of PC Jew­eller? - Varun Goyal

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

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.

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