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.