Exit Uflex: Sameer Shetye
"The stock can very well test its 200 DMA at 160 levels and I would advocate an exit at these levels."
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| Sameer Shetye, Derivatives & Technical Analyst, AK Stockmart in an interview with ET Now talks about Uflex.
What about Uflex?
Uflex had a very good support at 203. The stock made a double bottom on the daily charts and retraced up to close to 274 levels but then the way it has been beaten down as close to below 200 levels, so the stock had 203 as only support post which it has support at 160 levels which happens to be the 200 DMA. So the stock can very well test its 200 DMA at 160 levels and I would advocate an exit at these levels.
What about Uflex?
Uflex had a very good support at 203. The stock made a double bottom on the daily charts and retraced up to close to 274 levels but then the way it has been beaten down as close to below 200 levels, so the stock had 203 as only support post which it has support at 160 levels which happens to be the 200 DMA. So the stock can very well test its 200 DMA at 160 levels and I would advocate an exit at these levels.
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