489 to 487 is support range for Venky's(India): Rajat Bose
"About 489 to 487 is the range where some support is likely and any sharp intraday fall should be arrested when it comes to 489 to about 487 range."
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| Updated: Rajat Bose, rajatkbose.com, in an interview with ET Now talks about Venky's(India).
What is the call on Venky's(India)?
About 489 to 487 is the range where some support is likely and any sharp intraday fall should be arrested when it comes to 489 to about 487 range. If it were to fall below 487, then a retest of 50 day exponential moving average which is just below say 470 mark at 467 could be tested. Otherwise this stock is trying to clear its 200 day exponential moving average which is around 530.
Once that level is taken out then it will embark on fresh upswing otherwise it would be more into a consolidation phase. And as I heard people what I find is that the results have not been that good. So, immediately expecting 500 to 530 supply zone to be crossed would be at all order.
What is the call on Venky's(India)?
About 489 to 487 is the range where some support is likely and any sharp intraday fall should be arrested when it comes to 489 to about 487 range. If it were to fall below 487, then a retest of 50 day exponential moving average which is just below say 470 mark at 467 could be tested. Otherwise this stock is trying to clear its 200 day exponential moving average which is around 530.
Once that level is taken out then it will embark on fresh upswing otherwise it would be more into a consolidation phase. And as I heard people what I find is that the results have not been that good. So, immediately expecting 500 to 530 supply zone to be crossed would be at all order.
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