praveen.bhatiya

Significant Resistance broken decisively.

Long
NSE:SREINFRA   SREI INFRASTRUCTUR
For the start of May Future series I am considering to go long in the stock.It has broken the resistance of 85.50 decisively and heading towards the target of 98/110. 84 level can protect the trade so should work as a stop loss.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

Comments

Hi Praveen, thank you for the chart and for the SL too, as was bit worried. Purchase is of around 90 levels. Could you comment what happened to SREI today despite of indices being favorable? Was it profit booking? Is it still safe to add on dips as my view is mid/long term with this stock. Please advise. Thank you.
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praveen.bhatiya sahilmathur
@sahilmathur, Sorry for replying late as out of city. It is still ok for mid term investment as it is very often that market comes to retest the previous level. So if it shows strength at this level of retesting one can add more.
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