Maybe, maybe not.
Fundamentally company looks good, also price action wise present price range seems good for a med term investment.
Buy around CMP
SL below 430
with a TGT of 585/ 675
Disclaimer: These are just my views, I am only SHARING my views - kindly do NOT trade blindly with these levels, please do your own research before entering/ or as per advice from your own financial adviser.
This is for a med to long term investment only, its not a positional or an intraday trade, as I used to do normally
Avg Buy cost now 462
494-500 is a mild resistance zone, if able to close above this on daily/ hourly candle then can expect a good upmove.
Buy avg 462
Present price 524 (60 points+)
SL 430 (32 points)
I will exit part of my holdings.
Here however there's a pattern formed(it's drawn in chart- some say pendant, some flag- for me it's a good consolidation pattern), mostly such patterns will give a continuation of the previous trend, here it was an uptrend, so hence, breakout will be mostly to the upper side.
Bought the stock at lower levels not only to reduce SL, but also there's higher probability of breakout and continuation of pattern. If that's the case 580-585 also is possible,
if its a breakdown then good fall..