VIKAS ECOTECH

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Can I buy Vikas Eco Tech to av­er­age and re­cover my po­si­tion?

AVOID VIKAS ECO TECH FOR NOW AND EXIT BE­LOW RS 19

Vikas Eco Tech is cur­rently trad­ing at Rs 22.00. Its 52-week high/low stand at Rs 48.50/ Rs 18.50 made on Jan­uary 4, 2018 and Au­gust 11, 2017 re­spec­tively. The stock has been trad­ing with lower tops and lower bot­toms since its 52-week high within the down­ward slop­ing chan­nel pat­tern. Re­cently, af­ter hit­ting the sup­port at Rs 19, the stock is seen trad­ing in the range of Rs 19-22. The move­ment is very lit­tle on a daily ba­sis with vol­umes rel­a­tively low and the 14-pe­riod RSI at 50, which sug­gests lack of mo­men­tum. How­ever, on the weekly time frame, the stock has sup­port at the 200-pe­riod EMA. We sug­gest you to exit be­low Rs 19.

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