The market has been consolidating for a while now and showing strength to the upside. Weekly is bullish and forming triangle. There is support at 400 levels. Bought three portions with stop at 420 and looking to target 460, 480 and hold the rest with trailing stop if the stock starts trending further.
Atul Auto Ltd._Long_Daily_Swing_19.11.2017_Can you swim against the tide
Quality - Average
Valuation - Fair
Financial Trend - Negative
Delivery Percentage - High
DII holdings have increased by 1.03% in Sep 17
Entry - 439.63
Target - Target 1:469
Stop Loss - 421.76
Scrip at Rs 466 has fully bottomed out and has given a volume and price breakout from the top resistance line for last 2 weeks.
With the 3 wheeler auto industry now improving, fundamentally this debt free company is poised to rise substantially.
Buy with a stoploss of Rs 447 ~ 433.