Can I buy shares of Matrimony at current levels?
AVOID MATRIMONY.COM LTD FOR NOW
Matrimony is currently trading at Rs 850. Its 52-week high/low stand at Rs 1025/Rs 775.35 made on September 21, 2017 and September 28, 2017, respectively. Since beginning, the stock has fallen nearly 24% in three consecutive sessions and it has then seen consolidation till date. Meanwhile, the stock attempted to move upwards but faced resistance at 38.2% retracement level of the prior downward rally. Even above Rs 881, the stock may surge up to Rs 904-932 levels in the first place. The volumes are low and the 14-period RSI is quoting at 45 recovering from 39 levels. For now, we suggest you to avoid entering the stock.