HSCL

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I am hold­ing HSCL at Rs 126, but the stock did not sus­tain and turned from there. Should I exit?

- Tamil­sel­van Sub­barayan

HOLD HIMADRI SPECIALITY CHEM­I­CALS WITH A STOP LOSS OF RS 109

HSCL is cur­rently trad­ing at Rs 119. Its 52-week high/low stand at Rs 197/109.50 made on Jan­uary 15, 2018 and June 6, 2018, re­spec­tively. The stock formed a re­ver­sal Doji at 52-week high, and thereby fell, mak­ing lower tops and lower bot­toms till 52-week low. The stock at­tempted to break the trend but faced re­sis­tance yet again near Rs 155 level and has fallen grad­u­ally till Rs 111.60 on Septem­ber 25, which is a trend­line sup­port level. The stock bounced back on Septem­ber 26 with rea­son­able vol­umes and 14-pe­riod RSI pos­i­tive cross­over. We may see some more up­side in the com­ing ses­sions and hence we sug­gest you to hold and exit be­low Rs 109 which is its next sup­port.

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