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.