or its time to watch the move
Very tricky stock , those who understand can only ride this
Best regards Shivakumar
Yes sir thank Q for your kind information
It looks like Sintex wants to move higher, but bears are in control at higher levels.
The medium & long term trend is up, but the short term trend has turned down. It needs key drivers to take it through 38/39 levels.
On the downside it has support between 25 to 27.30 zone.
A key trigger could be prices of Crude OIL. If crude falls, the stock may move up, since plastic or HDPE is a derivative of CRUDE OIL.
Secondly, rural demand may also play a important role in moving the stock higher.
However, in the short term the stock may test lower supports at 23.
If it falls below that, it will turn the medium term trend down & then the stock may languish for a few weeks.
I suggest you to move your pick up ride a little higher, to say may be near 24 levels or so, if you see the bulls returning at that point.
21.50 seems unlikely, & if it gets there, chances are, it will move lower or sideways thereafter.
Yes sir I understand your kind information and let me act as per situation
Once again thank Q