Moser-Baer Ltd. CMP— Rs 35.45
Technical Outlook & Trading Strategy:-
The share price of Moser-Baer has broken below its critical supports. The level of Rs 36 was acting as a good support in recent history. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 34 / Rs 33.50 in forthcoming sessions.
Short positions are recommended at current levels and on pullbacks to levels of Rs 35.80 -- Rs 36.10. We recommend a stop placed above Rs 36.80 levels.
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