Amara Raja batteries is in a downtrend since late February. It has a major support at around 720 levels and MACD also suggests about a big move coming. If this stock takes support at 720 levels and bulls take charge we can expect a potential uptrend. Govts PLI scheme for ACC batteries can also turn favourable.
Why are u mentioning this stock for short thenn…it should be long right,….
nextbull11
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@AashishRajput, yeah I also think for long term it can be a good bet as it is trading below 200 day MA, but looking at current premium valuations in the market and the volatility there can be a correction. So I thought of short term if it takes support at 720 levels. Anyways you can make your own strategy according to your timeframe.