This is a pure technical view as its difficult to take a call on the sector with a lot of unknowns and risks ( what if a terror attack takes place, Forex risks etc ) . So in such a case it is important to time the entry early. IT might be a very good play on consumer story and so on.
Cox and Kings Technical View
-> The first most interesting thing is the significant rise in volumes over the last 3 months in comparison to the whole of last year.
-> Multiple bottoms were made around 85-90 zones.
-> Stock broke out above 103-105 with very strong volumes and has given a strong reversal signal.
-> Seems a major bottom is in place and can head towards 140 or higher in medium term.
-> The strategy should be to accumulate at 105-112 with a stoploss below 95-99 a little deeper one.
Disclosure: The stock was recommended to QuickGains / Big Value clients at 103-105 with a view of partial booking at 113-115.
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TECHNICAL ANALYSIS TRAINING MUMBAI – January 11-12
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