HATHWAY CABLE & DATACOMViés de alta
HATHWAY low risk buy opportunity
HATHWAY has been in an uptrend since March lows. The stock has successfully made a long term bottom clearly visible on a weekly bar chart. Since March lows, it has rallied upto 500% from INR 10-50 and now rests at a support zone of around 33-35.
Total cumulative shares traded since March lows are > 200 million shares, against a float available to public of only 100 million shares. This suggests high likelihood of a cornering in the stock since March. Moreover, only 5% of the company's shareholding is available to the public; 95% is held by RELIANCE .
This week, price shook out weaker hands by dropping below 32 and quickly reversing to close circuit up at 35, all within 2 trading sessions. This could be the start of a new leg up, providing a minimal risk entry point. The trade fails if price falls below 31. The stock is currently trading in T2T segment, hence only delivery trades are allowed.
Total cumulative shares traded since March lows are > 200 million shares, against a float available to public of only 100 million shares. This suggests high likelihood of a cornering in the stock since March. Moreover, only 5% of the company's shareholding is available to the public; 95% is held by RELIANCE .
This week, price shook out weaker hands by dropping below 32 and quickly reversing to close circuit up at 35, all within 2 trading sessions. This could be the start of a new leg up, providing a minimal risk entry point. The trade fails if price falls below 31. The stock is currently trading in T2T segment, hence only delivery trades are allowed.
Aviso legal
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