A TECHNICAL VIEW ON LA OPALA RG LTD-31.10.2021 (On Request)

 

LA OPALA RG LTD

Open-291.05--High-295.65--Low-287—Close-291.85 on 29.10.2021. 

All-Time High---369 made on 15.1.2018.

All-Time Low----1.35 made in 2009.

Recent Low---130.50 made on 11.12.2019.

IT IS A LOW VOLUME STOCK THEREFORE VOLATILITY COULD BE HIGH AT TIMES. 

Support:281.10/275/272.10/265.20/260/250/239/211/200. 

Resistance:294.05/296.25/305/308/314.95/320/326/327.45/332.50/335/358.60/369.50. 

(Bold and underlined figures are most important) 

It is in short term corrective mode and its important range for now is 321.60---280---260—250. Please note that sustained break above 321.60 on the closing basis could resume the steady up move again, similarly sustained break below 280 on the closing basis will push it into long term correction mode and pose a potential threat to the long term uptrend and sustained break below 250 will end the long term uptrend. Furthermore the important technical indicators are weak on the daily and weekly chart which is very concerning, therefore chances are that it may have an accelerated down move in coming days. It is therefore suggested to watch the stock for some time and then take an investment call because at this point of time it is likely that it may head down. But since it is very near to its important point therefore aggressive investor can take a chance and try to buy near 280 with a stop loss of 275 and then near 260-250 range with a stop loss of 245. It is suggested to avoid buying below 250 for sure.  

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.