Technical Tips For Stock (Day) Trade

Comments:

A1, A2) After IPO, last 6 months stock moving averages are between 18.60 – 18.00 (very small price band).
B) Last few weeks average price band is between 18.10 – 17.95.
C) Volume has been picked up recently.
D1, D2) Last few days trading pattern is suggesting somekind of suppressed upward movement, means stock wants to get free from small price fluctuation, but so far it is failed.

Conclusion:

Rishabhdev technocable is neutral to little bullish at this point. Recent announcement will have great impact in coming days. Stock will go higher once it breaks & stays above 18.60. I think it is a good buy for short term. There is very little down side left for the stock.

Safe Bet at this level:
# Promoters has purchased warrents which can be converted into share at 33.00 Rs. They paid 25%  = 8.25 Rs. per warrent upfront & remaining amount will be paid on conversion, if they excercise them within 18 months.
# They issued GDR at approx 20.00 Rs. per share.
# In IPO, share was offered at Rs. 33.00
# Last 2 Qtrs, company has posted net sales gain as well as net profit gain.
# Company’s main business has great potential in India and company is having good clientage as per their website.
# Promoters are having good industry experience and they are trying to remain clean as they have posted insider trading code conduct link on website.