The Weekly chart of Asahi India is a good example of a downward breakouttion. I wanted to take a position in this scrip when it was around 101 last year.
But, it frequently met with resistance at 120 levels and was trading b/w 100 - 120 for around 6 - 7 months, that i got disinterested after a while. As usual, after i stopped tracking, the scrip hit the roof at around 140.
This morning when i was reviewing my favourite scrips after some time, i though this scrip has a stock split, but, later found that it has been in a vicious down trend. A big fall from 140 to 60 levels. While i am not aware of any fundamental change in the scrip , what worries me is the heavy selling that has been observed in the past few weeks. Note that there is not much of a big FII or MF interest in this script. so , who is selling it and why is this script badly bruised. Publish Post
Has anbody got a clue ?
People should learn to love animals...
They are so tasty...
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