Bearish on Rei Agro: Rohit Shinde
It is going down with very heavy volumes. A lot of people are selling this stock and maybe you can be in this range only for some time.
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| ET Now spoke to Rohit Shinde, Head Technical Research, Nimbus Wealth Management, for his views on Rei Agro.
Your comments on Rei Agro?
What I can see is that unfortunately for this stock at the end of July when it cracked Rs 28, the opposite thing happened. It went up with very low volumes, went down, it cracked very badly and it is going down with very heavy volumes. So that is a problem with it.
Volumes are important while going up and are equally important while going down also. So here is an opposite. It is going down with very heavy volumes. So a lot of people are selling this stock and you can just see this bounce back coming around 1% up, 1% down and maybe you can be in this range only like from 20 to 22 for sometime.
Your comments on Rei Agro?
What I can see is that unfortunately for this stock at the end of July when it cracked Rs 28, the opposite thing happened. It went up with very low volumes, went down, it cracked very badly and it is going down with very heavy volumes. So that is a problem with it.
Volumes are important while going up and are equally important while going down also. So here is an opposite. It is going down with very heavy volumes. So a lot of people are selling this stock and you can just see this bounce back coming around 1% up, 1% down and maybe you can be in this range only like from 20 to 22 for sometime.
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