Monnet Ispat traders may book little bit of profit at 400: Angel Broking
ET Now talks to Shardul Kulkarni, Senior Technical Analyst, Angel Broking on Monnet Ispat stock.
By ET Bureau |
ET Now talks to Shardul Kulkarni, Senior Technical Analyst, Angel Broking on Monnet Ispat stock.
The charts shows Monnet Ispat is at 3.5%, close to 400. What's your say on this stock?
There is a lot of sideways consolidation that takes place. So for a trader, it is quite easy to go long at the lower side of the range. The lower side of the range in this stock being particularly Rs. 365 to Rs. 370 and on the higher side, it is around 400.
So at around 400, yes, one may book little bit of profits at this juncture, the stock is up 4% as of now but I would say that booking profits at this juncture would be a prudent strategy. On the lower side, you might get the stock back at 380 where you can again go long for the higher targets.
The charts shows Monnet Ispat is at 3.5%, close to 400. What's your say on this stock?
There is a lot of sideways consolidation that takes place. So for a trader, it is quite easy to go long at the lower side of the range. The lower side of the range in this stock being particularly Rs. 365 to Rs. 370 and on the higher side, it is around 400.
So at around 400, yes, one may book little bit of profits at this juncture, the stock is up 4% as of now but I would say that booking profits at this juncture would be a prudent strategy. On the lower side, you might get the stock back at 380 where you can again go long for the higher targets.
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