MER­CA­TOR

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I am hold­ing shares of Mer­ca­tor and wish to av­er­age it to re­cover losses. Can I do that at CMP?

- Jai­jy­oti

AVOID MER­CA­TOR FOR NOW AND EN­TER ABOVE RS 23 ON CLOS­ING BA­SIS

Mer­ca­tor is cur­rently trad­ing at Rs 20.45. Its 52-week high/low stand at Rs 49/Rs 18.18 made on Novem­ber 1, 2017 and July 20, 2018 re­spec­tively, sug­gest­ing a down­trend. The stock is trad­ing in a neg­a­tive trend since April 2017. Con­sid­er­ing the daily time frame, the stock fell con­sis­tently mak­ing lower tops and lower bot­toms since Jan­uary 15, 2018 up to the 52-week low. Cur­rently, the stock is con­sol­i­dat­ing at lower lev­els with no signs of re­ver­sal for now. The stock is trad­ing below its 50, 100 and 200-day EMAs. The vol­umes are poor and the 14-pe­riod RSI is in­clined south­wards. We sug­gest you to avoid for now and en­ter only above Rs 23 level on a clos­ing ba­sis. On the con­trary, we sug­gest you to exit cur­rent po­si­tion below the Rs 18.80 level.

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