Motilal_Oswal

SJVN in accumulation phase

Long
Motilal_Oswal Updated   
NSE:SJVN   SJVN LTD
SJVN cmp 112.45
Due to Q3 results stock fall nearly 34% from its recent high.
After consolidation stock may bounce back to the 1st resistance levels,
Accumulation zone 97 - 104.25
Support placed at 92.75 - 94.30
Resistance 132 - 135
Comment:
SJVN cmp 121.50
Comment:
19% up from our accumulation levels
Comment:
SJVN moved 27% from our accumulation levels
Comment:
cmp 124.70
Comment:
Made a high of 128.50
Comment:
update - made a high of 127.65
Comment:
SJVN again retested the accumulation phase and moved up
Comment:
can book profit and wait for another correction

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