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.