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Possible breakout in Zydus Wellness

Discussion in 'Technical Analysis' started by monilhathi, Jul 16, 2012.

  1. monilhathi

    monilhathi New Member

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    The stock is in general uptrend over the past few months with 50 day EMA just beginning to cross 200 day EMA. Comments welcomed before I hit a buy.
     
    monilhathi, Jul 16, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    In the month of Nov / Dec the stock was around 650 and so try to find a reason for the big fall and see if it has something to do with the management.

    Yes 300 and then 380 are very good support and so your long position should be based on stop loss using those levels.
     
    shabbir, Jul 16, 2012
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  3. monilhathi

    monilhathi New Member

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    Hi Shabbir

    The issue was with fundamentals. It did not perform well in those quarters. The MD is changed since Feb-12 and they are revisiting their strategy. The only issue is their results are due on 27th July. Should I buy now or wait till results?
     
    monilhathi, Jul 16, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    You can buy now provided you sell the shares before the result and use the concept I have shared in ebook called runup to the news. Don't wait for the news to unfold because it could be double edge sword.
     
    shabbir, Jul 16, 2012
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