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.
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.