Since De-merger, The company has been in declining trend. Company was consolidating since long time and in recent times after the Reliance acquisition news the Company has given almost 200% return. Looking at longer term chart, Will it make a CUP Pattern or CUP with Handle? If YES, Still there is room for 15x to 20x. Dis: Invested.
The hush puff of listing is over and now time to go long in a very systematic and disciplined way . cmp 81 . allocate 25% and on every dip till 54.
SPTL has been on a downtrend ever since the de-merger. The price action and oscillator divergence in the 4 hour time frame indicate that the bottom might be in place with 75 levels acting as a good support. The possible trend reversal would be confirmed with a trend line break above 85 levels with 90 acting as the first target. The stock has limited downside risk...