Burgerking
BURGER KING MAY TAKE SOME SUPPORT AT THIS BUYING ZONEBurger King is on the roller coaster ride since it's IPO listing. It met our Target of 200. went till 219 and now trading at 157 with consecutive two lower circuits. As we have very fewer historic data to analyze the technicals...We can focus more on psychological levels here. 130 to 145 is the 1st level of buying zone where stocks will be transferred from retailers to smart money. A small quantity can be added here. 15% of stocks are owned by retailers so Smart Money will accumulate these shares from 100 to 200 levels. We might see multiple waves in the coming time and then finally Burger King will trade at a fair price. I will recommend fishing (buying stock) wisely at the right level. This fall will open good entry points.
Expecting Burger King to touch 200 IPO was 156times oversubscribed. Retailers have a 15% stake in Burger king. Weak Investors will book profits while FIIS and DIIs will increase stake in Burger King. Sectors have great potential to grow. BK is itself a big brand. If financials are taken care off, we should expect this script to grow at least 3-4 times in short duration. However, as of now, I am expecting it to touch 200 price tag.
CMP - 132
Targert - 200
Absolute Returns - 51.15%
