FMGOETZE looks good for a short term Target Price of Rs. 509
Updated
FMGOETZE can be brought for a short term target of Rs. 509 on following ground :-
1. The stock is moving above 20 and 50 EMA.
2. Today's price increase is supported by increase in volume of 38119 against 8 Day Average volume of 29124.
3. The share can be brought between Rs. 475 and Rs. 480 with a Stop Loss of Rs. 465.
Please take your own decision and do not rely on my views as my suggestion is for study purpose.
1. The stock is moving above 20 and 50 EMA.
2. Today's price increase is supported by increase in volume of 38119 against 8 Day Average volume of 29124.
3. The share can be brought between Rs. 475 and Rs. 480 with a Stop Loss of Rs. 465.
Please take your own decision and do not rely on my views as my suggestion is for study purpose.
Trade closed manually
The stock went below Stop Loss for a day to Rs. 420/- but immediately recovered and had touched a High of Rs. 588.95 on 10 November, 2016. Learnt from above experience to never trade in very Small Cap stocks where Market Cap is less than Rs. 3000 crores as volatility is very high in such Stocks and all Technical Analysis fails in such cases.
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