Avoid buying Resurgere Mines but hold if you are invested: Sandeep Wagle, APTART
As of now, I definitely do not have a bullish view but if you hold it and if you want to sell it now, I will not give you that view either.
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| Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, in a chat with ET Now talks about Resurgere Mines.
What are your views on Resurgere Mines?
I very distinctly remember this stock. We had discussed this in the region of 95 to 100. This was possibly a month back or so, 1-1.5 months back and we talked of a level of 75 to 70. That level has come. I do not see any semblance of support even at these levels. So buying this stock at this level is out of question.
Yes, if you have a fundamental story, if you know something fundamentally about the company and if you have sold it at higher levels and you want to buy it back, that would be a different story. But technically, there is nothing it can go down.
As of now, I definitely do not have a bullish view but if you hold it and if you want to sell it now, I will not give you that view also because having fallen through 155 to 70 and at a support of somewhere around 65 to 68, it does not make sense selling at this level.
But technically, closing above 82, one can look for a target of 100-105. One should not go long before that.
What are your views on Resurgere Mines?
I very distinctly remember this stock. We had discussed this in the region of 95 to 100. This was possibly a month back or so, 1-1.5 months back and we talked of a level of 75 to 70. That level has come. I do not see any semblance of support even at these levels. So buying this stock at this level is out of question.
Yes, if you have a fundamental story, if you know something fundamentally about the company and if you have sold it at higher levels and you want to buy it back, that would be a different story. But technically, there is nothing it can go down.
As of now, I definitely do not have a bullish view but if you hold it and if you want to sell it now, I will not give you that view also because having fallen through 155 to 70 and at a support of somewhere around 65 to 68, it does not make sense selling at this level.
But technically, closing above 82, one can look for a target of 100-105. One should not go long before that.
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