Buy Educomp on decline; stop loss 182-183: Mitesh Thacker
"Educomp price declines to levels of 200, you can buy with a stop at about 182-183 and look for targets in the range of 245 that will take some time."
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com, talks to ET Now on Educomp.
On the charts Educomp, it shot up a fair bit yesterday almost a 14% to 17% notch up but does it seem like these levels are sustainable or we could see higher levels from the current juncture?
Yes, good possibility of that. One is that it has made a new low and then bounced back very strongly. So, we got something called as positive divergence and indicator which is slightly better.
Once it gets past 225 which is again some kind of a moving average level 245-246, there will be a very good bright possibility over here. I would keep a watch on this one. The set up is now turning positive which means that you will get a breakout in the next few days and this could be even good buying case.
The stock price declines to levels of 200, you can buy with a stop at about 182-183 and look for targets in the range of 245 that will take some time. But again this is one of the stocks, after a big big decline, is now trying to form a base and moving up.
On the charts Educomp, it shot up a fair bit yesterday almost a 14% to 17% notch up but does it seem like these levels are sustainable or we could see higher levels from the current juncture?
Yes, good possibility of that. One is that it has made a new low and then bounced back very strongly. So, we got something called as positive divergence and indicator which is slightly better.
Once it gets past 225 which is again some kind of a moving average level 245-246, there will be a very good bright possibility over here. I would keep a watch on this one. The set up is now turning positive which means that you will get a breakout in the next few days and this could be even good buying case.
The stock price declines to levels of 200, you can buy with a stop at about 182-183 and look for targets in the range of 245 that will take some time. But again this is one of the stocks, after a big big decline, is now trying to form a base and moving up.
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