Today's Pick

Aptech (₹56.45)

Gurumurthy K | Updated on January 23, 2018 Published on April 27, 2015

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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.)

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Published on April 27, 2015
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