I am holding CGCL at Rs 105, but could not sell at the top made recently. What do I do now? - Arijit Bhattacharya
Capri Global Capital Ltd is currently trading at Rs 131.20. Its 52-week high/low stand at Rs 139.70/Rs 72.60 made on December 13, 2018 and July 20, 2018, respectively. Recently, after taking support near the 100-week EMA, the stock formed an outside day candle, which resembles a bullish engulfing candle on the weekly scale as on weekend of October 12, 2018. Thereafter, it witnessed a sharp pullback. However, since last four weeks, the stock is trading in a range along with relatively higher volumes, which indicates ongoing profit-booking. Among the momentum indicators, the 14-period weekly RSI is quoting around 59.62, where there is also a negative divergence. The stochastic has also given negative crossover in the overbought zone, which predicts a pause in the trend. Considering all the above factors, we recommend you to book profit in CGCL at current price.