Comments
Investors with a short-term perspective can consider selling the shares of Aptech. The stock fell 3.2 per cent on Monday. It has also recorded a decisive close below the 21-day moving average, currently poised at ₹59.51. This could add to the downside pressure in the stock in the coming sessions. Intermediate rallies to this level could attract fresh sellers. The short-term corrective rally that began from the March low of ₹52.25 halted at ₹64.5 in early April. The stock has been trending lower since then.
Technically, this reversal has happened from both the 55-day moving average as well the 61.8 per cent Fibonacci retracement resistance levels, which are placed near the same level. The stock has some support at ₹55, but is vulnerable to a break. The stock is likely to fall to ₹52 in the coming sessions. Traders can go short. Stop-loss can be kept at ₹59 for a target of ₹53.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.