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.