PTC

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Can I buy shares of PTC as it has moved up from 52-week low?

- Dam­era Venkata Rao

AVOID FOR NOW AND EN­TER ON CLOSE ABOVE RS 80.50-81.50

PTC In­dia is cur­rently trad­ing at Rs 75.95. Its 52-week high/low stand at Rs 128.30/64.60 made on Novem­ber 2, 2017 and Oc­to­ber 8, 2018 re­spec­tively. The stock is trad­ing in a down­ward slop­ing chan­nel pat­tern since Jan­uary 2018. The stock re­sisted at its main trend­line at Rs 88 on a clos­ing ba­sis and thereby wit­nessed a downslide be­low its prior sup­port at Rs 67.80 and made a new 52-week low. The stock gave a Doji at 52-week low and thereby wit­nessed re­ver­sal. How­ever, the stock is still trail­ing in-be­tween the chan­nel. We sug­gest you to avoid for now and en­ter at Rs 80.50-81.50, which is a chan­nel pat­tern break­out and 100-day EMA re­sis­tance break­out.

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