amankavi
Short

Sintex - breaking the pivot barrier

NSE:SINTEX   SINTEX INDUSTRIES
109 views
4
109 3
Stock struck around pivot line. Can either go bullish if breaking the pivot line towards TP=130,135
RSI around 70 which signifies bearish touch as buyers might be closing their position
Going down, Could buy around Support1, Support 2
Comment: Stock might see dip around support level so could be better to wait and watch as Q4FY17 consolidated net profit has declined 4.31% yoy
Comment: Reached near Support 1 as anticipicated (104)
Stock might see dip around support level so could be better to wait and watch as Q4FY17 consolidated net profit has declined 4.31% yoy
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well will be happy to see Support 1 as I sold around that area (badtiming) and lets wait and watch . Also aren't 106-07 and 109-10 are also support zones?
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amankavi VikramRajput
@VikramRajput, Think other support levels can be created as per convenience. However, I feel Support 2 to be the threshold in case of major dip, although, shouldn't happen with company with fine fundamentals (Price to book value: 1.07, Price to Sales: 0.74) being on safer side

Stock still appears to be in bullish trend. Let's see for how long it stays consistent around pivot line and then, make uptrend and crosses the resistance barrier :)
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