SHRI­RAM EPC

CMP: ₹20.05 BSE Code: 532945

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I have bought Shri­ram EPC Ltd 500 nos @Rs 36. What should I do?

- Su­nil Nir­mal

EXIT SHRI­RAM EPC BE­LOW RS 19

Shriam EPC is cur­rently trad­ing at Rs 20.05. Its 52-week high/low stand at Rs 40.80/19.55 made on Novem­ber 11, 2016 and Au­gust 11, 2017, re­spec­tively, de­pict­ing neg­a­tive trend. Con­sid­er­ing the daily time frame, the stock had at­tempted mul­ti­ple re­sis­tances as well as round­ing bot­tom break­out around Rs 39-40 lev­els in Novem­ber 2016, but could not sus­tain and wit­nessed a grad­ual down­beat there­after, which it has fol­lowed till to­day. Cur­rently, the stock is trail­ing at its ma­jor sup­port level and may take a sup­port at Rs 19 level. How­ever, the 14-pe­riod RSI neg­a­tive cross­over and volatile vol­umes sug­gest weak­ness. Hence, we sug­gest you to exit be­low Rs 19.

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