Took a trading bet last week in the stock. Price appreciation has been fantastic, 50% rise in 1 week. In a business like Kitex, without proper reasons, such a price appreciation wouldn’t have happened. Price would not have reached the highs posted 8 years ago, with highest ever volumes (if more volume comes till month’s end). Thought of trailing the profit, but given the rise in such a small period of time, and this being a trade based on technicals, did not want to overstay, neither can add to the position, so booked profits and exited.
Just want to record this view, so that it will help in the future in similar situations.
Wishes to the investors.
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