TRENT

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I am hold­ing shares of Trent bought at Rs 365 level. What should be my next ac­tion?

- Mr. Hiren

HOLD TRENT FOR NOW

Trent is cur­rently trad­ing at Rs 367.70. Its 52-week high/low stand at Rs 377.60/Rs 267.10 made on July 12, 2018 and Au­gust 21, 2017, re­spec­tively. Con­sid­er­ing the daily time frame, the stock gave a hor­i­zon­tal trend­line break­out at Rs 350 level on April 6, 2018 and hit Rs 376.55, its prior all-time high. The stock cor­rected mak­ing a fall­ing wedge kind of a pat­tern, fol­lowed by a pat­tern break­out at Rs 316 on July 9 and made a new all-time high of Rs 377.60, though not on a clos­ing ba­sis. The stock cor­rected up to Rs 320 and has grad­u­ally bounced back to Rs 375 amid low vol­umes. How­ever, we do not see any bear­ish re­ver­sal for now, and sug­gest you to hold.

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