TAJ GVK

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

I had bought Taj GVK at Rs 238 but it fell sharply and I couldn’t exit. What to do now?

- M. Shoaib

HOLD TAJ GVK HO­TELS & RE­SORTS WITH A STOP LOSS OF RS 197 OR A BOUNCE AT RS 210-218 CLS

Taj GVK is cur­rently trad­ing at Rs 198.75. Its 52-week high/low stand at Rs 263.80/Rs 149.20 made on April 24, 2018 and Septem­ber 8, 2017, re­spec­tively. Con­sid­er­ing the daily time frame, the stock had attempted a sym­met­ric tri­an­gle break­out at Rs 239 level on July 30, but then it con­sol­i­dated for four con­sec­u­tive days and gave a sharp fall of up to Rs 200 level wit­ness­ing a break­down at Rs 211 level. Now the stock is con­sol­i­dat­ing at the lower lev­els and it is just above its 200-day EMA sup­port level. The vol­umes have picked up, but the os­cil­la­tors are yet to cue re­ver­sal. We sug­gest you to hold and exit below Rs 197 or at the bounce back at Rs 210, fol­lowed by Rs 218.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.