VGUARD

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Can I buy Vguard at the mo­ment?

EN­TER V-GUARD AT THE CUR­RENT LEV­ELS

V-Guard is cur­rently trad­ing at Rs 224.50. Its 52-week high/low stand at Rs 254.90/Rs 177 made on April 20, 2018 and Septem­ber 28, 2017, re­spec­tively. The stock wit­nessed a fall in the form of lower tops and lower bot­toms from its 52-week high to Rs 182 level. The stock there­after wit­nessed a sharp rise up to Rs 223, breach­ing its first re­sis­tance at Rs 217 level. The stock cor­rected up to 38.2% of the up­ward rally from Rs 182 to Rs 223 till Au­gust 7 and has con­sol­i­dated there­after till Au­gust 28. On Au­gust 29, it broke the Rs 223-mark, but it could not sus­tain on a clos­ing ba­sis. The whole move has formed a kind of cup and han­dle-pat­tern with a break­out at Rs 21 Jai­jy­oti 8 level. We sug­gest you to Buy.

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