1. Buy or Sell at your own risk 2. Don't risk more than 1%-2% of your capital as stop loss 3. Position Size formula:- Stop Loss/(Buy Price-Initial Stop Loss Price) 4. Either sell on initial stop loss hit or when closes below daily supertrend
High volume breakout on NSE:ZUARIGLOB. Buy with a stop loss just below Rs.157.
Positives about the company: - 1. Stock is trading at 0.18 times its book value 2. Market value of investments Rs.1824.02 Cr. is more than the Market Cap Rs.500.47 Cr. 3. Losses are continuously coming down 4. Promoter stake increasing since Sep'20 (from 54.83 to 56.95)
@lovequotes1821, on the daily chart it has lost momentum but still trading near the breakout level and above 200 day moving average, which is a good sign, especially when nifty is trading below its 200 day moving average. On the weekly chart it has corrected but with very low volume. 160 to 140 is a good support zone. Next support comes at 125-100 zone. If nifty continues to go down then it will also correct but very slowly. Though nothing is impossible in stock markets, what I feel is that zuari will not go down below 125. Problem with this company is that it's borrowing levels are too high and a lot of money is going out for interest payment. Interest coverage is also very low. All in all it is technically strong but fundamentally weak.