Todays Pick

V-Guard Industries (₹190.9): Sell

Yoganand D | | Updated on: Sep 18, 2018
image caption

Investors with a short-term perspective can sell the stock of V-Guard Industries at current levels.

On Tuesday, the stock tumbled 5 per cent with above average volume, decisively breaking a key support at ₹197. The stock has been in a medium-term downtrend since encountering a significant resistance at ₹250 in April 2018. Following a corrective upmove, the stock met with resistance around ₹225 in late August and continued its downtrend. Since then, the stock has been in a short-term downtrend.

While trending down, the stock has decisively breached its key supports at ₹210 and ₹197. The stock is trading well below its 21- and 50-DMAs. The daily relative strength index has re-entered the bearish zone from the neutral region and the weekly RSI has entered the bearish zone. The short-term outlook is bearish. Traders can sell with stop-loss at ₹195. Short-term targets are ₹183 and ₹180 levels.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on September 18, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you