Wait out …… Index Over-stretched for near term !
Sensex Technical View :
First red candle after slow upmoves ! ... Though no signs of reversal as of now but sustained closing below 16600-16700 could take it to 16000 levels in near term. Continue to wait and watch.
Stocks to watchout for :
Moser keep a stop of 94 ( disclosure booked half at 102 and trailing got hit at 97 ) , WWIL stop 20.3, Genus stop 200.
No stock specific updates as from here on it would be difficult to take trades as risk is increasing and in many cases decisions have to be taken in the day. Little uncomfortable on the index for near term.
So take a break relax over the long weekend
research more , learn more
Investment pick :
J K Agri Genetics
Investment value of 160-190 crs against a mkt cap of 50-60 crs. Debts of 40-45 crs.
Into Agro based business so does deserve a better price in 6 mths to 1 yr. Buy on declines from 165-145 only with long term view.
Do your research as stock is illiquid and dont expect movements in near term although possible.
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