My attention has gone to this stock only after recent Q4 results, that too because the stock has gone down even on good results. Technically, there was a strong support at Rs.118.10, I thought it will not go down below the support and so accumulated between 120/- to 118/-. But it has gone down up-to 105.05, which was the second support level. Anyways, as per famous experts of technical studies, once it reverses immediately within one or two sessions, then it should be bought immediately looking forward for a big jump. On last Thursday itself it has opened at 105.05 and closed at 114.40, which was slightly higher than Wednesday’s close. Volume on Thursday was also higher than Wednesday. This was a very bullish indication and is proved on Friday as during the last hour of the market the stock was steady near the day’s high. I think on Monday it should open above Friday’s high and go further higher. I think on the recent dips the stock is accumulated by intelligent investors.
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