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Podcast(English) | Radico Khaitan (₹243.3): Sell

| Updated on March 23, 2020 Published on March 23, 2020

Investors with a short-term perspective can sell the stock of Radico Khaitan at current levels. The stock tumbled 20 per cent decisively breaking below a key long-term support level at ₹265 on Monday. This fall has strengthened the medium-term downtrend that has been in place since recording a 52-week high of ₹439 in late February this year.

 

While trending down, the stock breached a key support at ₹335 in early March and this level acted as a key resistance and limited the rally. Subsequently, the stock continued to trend downwards. Short-term trend is also down for the stock. It trades well below the 50- and 200-DMAs.

Published on March 23, 2020