Our recommendation to buy opto circuits was around 51 odd levels on 7th March 2013 in 3 trading sessions stock has reached our first targets of 60 and close above it can lead to more short covering in the entity.
The return of 15% in the counter as expected. So one can realize the 50% of the profits and can ride further with a stop loss of 55 for targets of 66 from current levels in the stock.
Opto Circuits Short covering can be seen
The stock has been battered from 225 odd levels (01/2012) to the 43.20 odd levels. Accumulation is seen around 50 odd levels in the past few trading sessions. One can by the counter around current levels (51 - 53) with a stop loss of 48. The stock can rally towards 59 - 60 odd levels in the coming days and more short covering can lead the stock towards 66.
Watch out can make a profits of 12 - 15% in a short span. Technically accumulation in the counter is seen from past few sessions any increase in volumes on a upper side can be used to accumulate the stock as it is in the oversold zone.
Raju V Angadi
Equity Research Analyst
Fortuna Financial Boutique (FFB)
Bangalore, India.
Disclaimer: This is just an view based on the research of individual. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in stock markets.
The return of 15% in the counter as expected. So one can realize the 50% of the profits and can ride further with a stop loss of 55 for targets of 66 from current levels in the stock.
Opto Circuits Short covering can be seen
The stock has been battered from 225 odd levels (01/2012) to the 43.20 odd levels. Accumulation is seen around 50 odd levels in the past few trading sessions. One can by the counter around current levels (51 - 53) with a stop loss of 48. The stock can rally towards 59 - 60 odd levels in the coming days and more short covering can lead the stock towards 66.
Opto Circuits Daily chart
Watch out can make a profits of 12 - 15% in a short span. Technically accumulation in the counter is seen from past few sessions any increase in volumes on a upper side can be used to accumulate the stock as it is in the oversold zone.
Raju V Angadi
Equity Research Analyst
Fortuna Financial Boutique (FFB)
Bangalore, India.
To know more about probable counts contact us back on rvangadi@googlemail.com.
Disclaimer: This is just an view based on the research of individual. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in stock markets.
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