GRUH FI­NANCE

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I am hold­ing Gruh Fi­nance bought at Rs 287 lev­els. What should be my next ac­tion?

- Thounao­jam Ju­rist

EXIT GRUH FI­NANCE ON CLOSE BE­LOW RS 259

Gruh Fi­nance is cur­rently trad­ing at Rs 267.95. Its 52-week high/low stand at Rs 381.95/235.45 made on June 7, 2018 and No­vem­ber 8, 2017 re­spec­tively. Con­sid­er­ing the daily time frame, the stock hit shoot­ing star at its 52-week or all-time high level and wit­nessed a sharp down­fall of up to Rs 297 level, where it also broke its 100-day EMA sup­port level. The stock at­tempted a bounce-back of up to 61.8% re­trace­ment level, but wit­nessed mul­ti­ple re­sis­tances at those lev­els and re­treated yet again breach­ing its 200-day EMA level too. The stock is trail­ing near its prior sup­port level of Rs 260-264. We sug­gest you to exit be­low Rs 259.

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