SINTEX

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CMP: ₹26.20

BSE Code: 502742

I have bought Sintex at Rs 28 level con­sid­er­ing a re­ver­sal in the stock, but the stock has moved down from that level. What should I do, hold or exit?

- Ka­palli Sri­rama

EXIT SINTEX IN­DUS­TRIES BE­LOW RS 24.90

Sintex is cur­rently trad­ing at Rs 26.20. Its 52-week high/low stand at Rs 38.55/17.75 made on July 20, 2017 and May 25, 2017, re­spec­tively. The stock has a ten­dency of ex­treme move­ments or very lit­tle move­ment on a daily ba­sis, and con­sid­er­ing this as­pect, en­ter­ing the stock tech­ni­cally would lead to hit­ting stop losses. Cur­rently, the stock has also given mul­ti­ple sup­port break­down at Rs 26.30 level, and hence, the stock may see some more down­side from the cur­rent lev­els. Low vol­umes and the 14-pe­riod RSI ly­ing above over-sold zone do not sug­gest re­ver­sal, for now. Hence, we sug­gest you to exit the stock be­low Rs 24.90 level.

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