GATI

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Can I buy Gati at CMP?

AVOID GATI LTD FOR NOW.

GATI is cur­rently trad­ing at Rs 90.95. Its 52-week high/low stand at Rs 154.45/Rs 66.65 made on Jan­uary 17, 2018 and Oc­to­ber 1, 2018, re­spec­tively. Af­ter hit­ting 52-week low, the stock has bounced al­most 35 per cent slowly with rel­a­tively low vol­umes. On the daily time scale, the stock has re­cently man­aged to close above its im­me­di­ate hurdle of Rs 89, but there are se­ries of re­sis­tance lev­els ahead to break, be­gin­ning with the mul­ti­touch point down­ward slop­ping trend­line re­sis­tance zone of Rs 100-103 and the 200-day EMA. All re­sis­tance fac­tors men­tioned above may build sell­ing pres­sure or profit-book­ing near this zone. Hence, we sug­gest avoid­ing en­ter­ing this stock for now.

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