MON­SANTO

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

Can I en­ter Mon­santo as it has bounced back from near the 52-week low

- Barathku­mar Nee­lamegam

AVOID MON­SANTO ON AC­COUNT OF EX­TREME VOLATIL­ITY

Mon­santo is cur­rently trad­ing at Rs 2579 Its 52-week high/low stand at Rs 3358/Rs 2401 made on Septem­ber 17, 2018 and Fe­bru­ary 6, 2018, re­spec­tively. Con­sid­er­ing the daily time frame, the stock wit­nessed a very slug­gish move up to Septem­ber 14, fol­lowed by volatile moves with huge can­dles af­ter that, where it also hit 52-week high. Af­ter hit­ting 52-week high, the stock has tum­bled and also breached its 100-day EMA level. It hit a low of Rs 2424 on Oc­to­ber 25, which is near to its 52-week low level. The stock may see a re­ver­sal, but volatile vol­umes and 14-pe­riod RSI trail­ing at 42 lev­els do not sug­gest a good mo­men­tum or a con­sis­tent move up­side. We sug­gest you to avoid for now.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.