CMP: ₹22.45 BSE Code: 520077
I have bought 250 shares of Amtek Auto @Rs 56. What should I do?
- Hemant Daga
EXIT AMTEK AUTO BELOW RS 21
Amtek Auto is currently trading at Rs 22.45. Its 52-week high/low stand at Rs 50.30/Rs 21.25 made on October 4, 2016 and June 20, 2017, respectively. The stock has been trading in a downtrend with lower tops and lower bottoms and is recently approaching its 52-week low levels. Considering the weekly time frame, the current week is the fifth consecutive week of fall with rising volumes showing no signs of recovery for now. Considering the daily time frame, the 14-period RSI has entered oversold zone and is quoting at 25, but has not yet indicated bounce back. Hence, we suggest you to exit the stock below Rs 21 level.