The stock has rallied on smart money earlier and higher earning expectation and clocked a high of 970+ and later fell down drastically.
I have noticed Pension funds buying on bulk deal column. I feel optimistic of the stock as the fundamentals and management is good and has the capabilities to pull off large infra projects.
Technically, it's trading below it's long term averages but has formed a small double bottom with bottom at 250 odd levels. RSI has shown divergence on the charts. A flag breakout is expected soon.
I expect the price to touch 320 in short term, 430 in medium term and 530 in long term. if the price falls below 200 it will negate my view.
Famous Qoute:
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. If you want to have a better performance than the crowd, you must do things differently from the crowd."
I have noticed Pension funds buying on bulk deal column. I feel optimistic of the stock as the fundamentals and management is good and has the capabilities to pull off large infra projects.
Technically, it's trading below it's long term averages but has formed a small double bottom with bottom at 250 odd levels. RSI has shown divergence on the charts. A flag breakout is expected soon.
I expect the price to touch 320 in short term, 430 in medium term and 530 in long term. if the price falls below 200 it will negate my view.
Famous Qoute:
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell. If you want to have a better performance than the crowd, you must do things differently from the crowd."
Trade closed: target reached:
short term t/p of 320 achieved.