HATHWAY has been in an uptrend since March lows. The stock has successfully made a long term bottom clearly visible on a weekly bar chart. Since March lows, it has rallied upto 500% from INR 10-50 and now rests at a support zone of around 33-35.
Total cumulative shares traded since March lows are > 200 million shares, against a float available to public of only 100 million shares. This suggests high likelihood of a cornering in the stock since March. Moreover, only 5% of the company's shareholding is available to the public; 95% is held by RELIANCE .
This week, price shook out weaker hands by dropping below 32 and quickly reversing to close circuit up at 35, all within 2 trading sessions. This could be the start of a new leg up, providing a minimal risk entry point. The trade fails if price falls below 31. The stock is currently trading in T2T segment, hence only delivery trades are allowed.