NB VEN­TURES

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I bought stocks of Nava Bharat Ven­tures at higher lev­els, and presently, the stock is quot­ing at lower lev­els. Can I av­er­age at cur­rent lev­els?

- Sai Kr­ishna

AVOID EN­TER­ING NAVA BHARAT VEN­TURES FOR NOW

Nava Bharat Ven­tures is cur­rently trad­ing at Rs 125.10. Its 52-week high/low stand at Rs 184.20/Rs 108.10 made on Jan­uary 15, 2018 and Oc­to­ber 8, 2018, re­spec­tively. On the weekly time frame chart, af­ter hit­ting its 52-week high, the stock is trad­ing in a zigzag move­ment. The stock gave bounce from its 52-week low, but with rel­a­tively very low vol­umes. On the daily time frame, the stock is trad­ing be­low its im­por­tant long term mov­ing av­er­age, i.e. 200-day EMA. More­over, the stock is placed near its re­sis­tance level as de­fine by the down­ward slop­ing trend­line on the weekly time frame ad­join­ing the highs of Jan­uary 2018- Au­gust 2018-Septem­ber 2018 and Novem­ber 2018. Con­sid­er­ing the above fac­tors, we would sug­gest you to avoid av­er­ag­ing Nava Bharat Ven­tures for now.

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