Zylog seeing some upside around 435-440: Sharyans Resources
Traders have zeroed in on it as a counter which periodically gives you large moves.
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| Updated: Zylog on the charts?
CK Narayan: The last few days have been fairly positive and if you were to look at the pattern set up within Zylog, it is has some more room on the upside, maybe 435-440 but I do not really see it being too much more than that because any midcap or small cap stock if you get the management in, they are always gung ho about the prospects, about the numbers. I do not think anybody is going to come on television and say we are not seriously well or we are doing badly.
So they can expect that as a given but if you see the stock from a slightly longer term perspective, in December there was some bad news and the stock had got really badly rubbed and robbed down to about odd 270 levels wherein it had hit some strong levels of support. So the price damage part in Zylog is over. What it essentially has to get over is something related to the time part and therefore the stock will remain in a range. I would look to buy any dips down to 360-370 levels because you have supports down there but I am not going to stock upward. The upside levels for the moment, I would not really put it much for about 440.
CK Narayan: The last few days have been fairly positive and if you were to look at the pattern set up within Zylog, it is has some more room on the upside, maybe 435-440 but I do not really see it being too much more than that because any midcap or small cap stock if you get the management in, they are always gung ho about the prospects, about the numbers. I do not think anybody is going to come on television and say we are not seriously well or we are doing badly.
So they can expect that as a given but if you see the stock from a slightly longer term perspective, in December there was some bad news and the stock had got really badly rubbed and robbed down to about odd 270 levels wherein it had hit some strong levels of support. So the price damage part in Zylog is over. What it essentially has to get over is something related to the time part and therefore the stock will remain in a range. I would look to buy any dips down to 360-370 levels because you have supports down there but I am not going to stock upward. The upside levels for the moment, I would not really put it much for about 440.
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