AMTEK AUTO

CMP: ₹22.45 BSE Code: 520077

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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.

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