Would remain long on Subex: Sameer Shetye, AK Stockmart

Sameer Shetye, Derivatives & Technical Analyst, AK Stockmart in a chat with ET Now talks about Subex.

Do you expect Subex it to continue today’s good performance?

Subex has been a pretty decent mover and has risen on very good volumes right since 67 levels to 80 levels. Today too the volumes have been pretty good at close to 1.2 crore on the National Stock Exchange. What I see on the charts is that the stock can retrace its entire crack from roundabout close to 102 levels to the bottom of 47 and can test 103.75 or 104 levels in the near term.

So those long in the counter can expect a 104 in the near term. So I would remain long on the counter possibly keep a trailing stop of 85 on the counter but yes I am expecting 104 on Subex.