Hitesh (@hitesh2710) Bhai: Would appreciate your views on the below aspects. TIA.
1- What might be the reasons ,except fraud and regulatory action, in your opinion for a vertical fall in any share’s price in a short span of time? For instance, the DMART’s weekly chart shown below. Suppressed profitability in Q2 results compared to revenue resulted in a gap down opening in the lastest week. However, stock started correcting in a vertical fashion 3 weeks prior.
2- Oriental Aromatics Ltd’s (OAL’s) price had a bullish close today. Neckline of double bottom @ Rs. 504 was continuously challenged in the prior 4 weeks. However, today’s strong close indicates a bullish stance for the coming weeks. What’s your latest view on the current chart setup?
Disc: No position in DMART. Holding OAL.
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