One can stay invested in Insecticides India: Rajat Bose
"...but good support exists between 350 and the 200-day moving average is around 320. Overall one can stay invested and so would I."
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| Updated: Rajat Bose, rajatkbose.com, talks to ET Now on Insecticides India stock.
What is the call on Insecticides India and benchmark indices?
On Insecticides India, I personally have investment. So, this is a usual caveat that I would like to issue before I give my opinion. Insecticides India came close to its 90-day moving average around 350 and from there with this news helping it to bounce back but there are some negative divergences on oscillator chart suggesting that it might take some time to really cross 400.
Of course, this news gives it a good boost and it crosses 400 moves further up, that is another story. But, otherwise the long term trend is up, the medium term trend is up but the short term trend if today it shows a reversal, then it would be a short term reversal. Otherwise the short term trend was down from 400 but good support exists between 350 and the 200-day moving average is around 320. Overall one can stay invested and so would I.
What is the call on Insecticides India and benchmark indices?
On Insecticides India, I personally have investment. So, this is a usual caveat that I would like to issue before I give my opinion. Insecticides India came close to its 90-day moving average around 350 and from there with this news helping it to bounce back but there are some negative divergences on oscillator chart suggesting that it might take some time to really cross 400.
Of course, this news gives it a good boost and it crosses 400 moves further up, that is another story. But, otherwise the long term trend is up, the medium term trend is up but the short term trend if today it shows a reversal, then it would be a short term reversal. Otherwise the short term trend was down from 400 but good support exists between 350 and the 200-day moving average is around 320. Overall one can stay invested and so would I.
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