TARA JEWELS
TARA JEWELS recently submitted a presentation to investors to attract explaining their Business model and market share along with sales, profit numbers. You can find it on BSE India website.
Looking at technical picture of the stock, Stock made a kind of Double bottom within 2 - 3 months time period. The strong formation of double bottom is expected to form in 4 to 6 months time frame. However it looks little lesser, the way stock moved till the reflection point with a good presentation by company to investors, having good business model with improving international market in Jewelry segment.
Stock touched earlier reflection point around 64 levels by making high of 67 and went into correction. Generally after a good pull back, if stock goes into correction, It will bounce back with in 4 weeks in trend changing moves. So lets see if stock crosses the recent high of 67 to make an entry.
If you are a long term investor and can take the risk, one can take postion now at CMP or around 40 - 45 levels. If you can not take much risk and need a technical confirmation then wait for breakout of recent highs at 67.
We see targets of 108 - 120 where we have 200 Weekly EMA and previous cluster of resistances.
so buy the stock in recommended levels based on your ability of taking risk with SL below previous lows 30.
Disclosure: I have positions in stock which I took very recent and into mild profit.
TARA JEWELS recently submitted a presentation to investors to attract explaining their Business model and market share along with sales, profit numbers. You can find it on BSE India website.
Looking at technical picture of the stock, Stock made a kind of Double bottom within 2 - 3 months time period. The strong formation of double bottom is expected to form in 4 to 6 months time frame. However it looks little lesser, the way stock moved till the reflection point with a good presentation by company to investors, having good business model with improving international market in Jewelry segment.
Stock touched earlier reflection point around 64 levels by making high of 67 and went into correction. Generally after a good pull back, if stock goes into correction, It will bounce back with in 4 weeks in trend changing moves. So lets see if stock crosses the recent high of 67 to make an entry.
If you are a long term investor and can take the risk, one can take postion now at CMP or around 40 - 45 levels. If you can not take much risk and need a technical confirmation then wait for breakout of recent highs at 67.
We see targets of 108 - 120 where we have 200 Weekly EMA and previous cluster of resistances.
so buy the stock in recommended levels based on your ability of taking risk with SL below previous lows 30.
Disclosure: I have positions in stock which I took very recent and into mild profit.
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