NORTHERN ARC ANALYSISTHIS IS MY MUHURAT TRADING PICK STOCK
FOR LEARNING PURPOSE
NORTHERN ARC CAPITAL LTD- The current price of NORTHERN ARC is 274.90 rupees
I am going to buy this stock because of the reasons as follows-
1. It made a 52W high and then it retested the previous breakout level.
2. It got a great buying force and moved up by 105% in last few months (which shows smart money)
3. It is showing better relative strength as it stood strong in volatile times including last few weeks.
4. The risk and reward is favourable. The good part- The stock is not extended.
5. The stock can do great if it breaks its IPO listing high around 350.30 rupees.
6. The stock has got a good catalyst and that is- Individual Investors and FIIs have increased their stake in this stock. They have gone aggressive in that.
7. Another good part- The sector is looking bullish. Finance sector is getting better. It made a new ATH which is good
I am expecting more from this in coming weeks
I will buy it with minimum target of 45-50% and then will trail after that.
My SL is at 240 rupees
I will be managing my risk.
Long
