Hitesh Bhai –
The current level of correction is not new to this stock. But it follows a very unique context – the promoter sold their ~3.5% stake. As of now, there is lack of any downside reversal pattern on the chart. Only positive aspect is that price is resting at 200dema.
Anticipated good business performance is known for sometime and shall be already in the price.
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What kind of price action would make you to switch from ‘hold’ with bullish view to ‘sold’ with bearish view?
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Which type of daily chart you will use to base the above decision?
I ask the above from the perspective of anyone who might be considering this as a crucial juncture to initiate a new position. This will also help to understand your approach to decide on liquidating a position since you do not practice a mechanical (formula based) approach.
TIA.
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