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amaraja

Discussion in 'Technical Analysis' started by akhtar80, Sep 26, 2017.

  1. akhtar80

    akhtar80 Responder

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    @shabbir bhai,

    till date i have accumulated about 60k worth of Amaraja with average price of 792.
    Do you think it is advisable to accumulate more ?
     
    akhtar80, Sep 26, 2017
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  2. shabbir

    shabbir Administrator Staff Member

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    I have 300 units of it at 850ish level. It has hit a 2 year low and though I am not able to see any fundamental reason for it but then I am never a fan of averaging down and so it is advisable as of now to wait and watch and see if there is any news that comes out. Such key levels breakdown should not be taken lightly and there can be some news that may be coming or even just a major shareholder offloading its positions. Let us wait for things to unfold instead of jumping to it at each fall. Let it form a support levels and let us wait for some trend reversals. 1100 to 700 cannot be purely technical at a time when every auto ancillary company was making a new high.
     
    shabbir, Sep 26, 2017
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  3. akhtar80

    akhtar80 Responder

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    Really appreciate this... Makes sense to put a stop till we hear something concrete.
     
    akhtar80, Sep 26, 2017
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  4. shabbir

    shabbir Administrator Staff Member

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    shabbir, Sep 26, 2017
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  5. sachin_chaudhary

    sachin_chaudhary New Member

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    It means ARB is expanding.... By following your blogs I also learned that never take ur decisions in a hurry. @shabbir Sir.
     
    sachin_chaudhary, Sep 26, 2017
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  6. shabbir

    shabbir Administrator Staff Member

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    Should be but price action don't suggest that yet.
     
    shabbir, Sep 26, 2017
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