63 MOON TECNOLOGIES LTD
SECTOR: SOFTWARE -- IT IS A WORLD LEADER IN PROVIDING
NEXT GENERATION TECHNOLOGY VENTURES, INNOVATIONS, PLATFORMS, AND SOLUTION FOR
CREATING DIGITAL MARKETS AND MARKETPLACES THAT ENABLE PRICE DISCOVERY AND
TRANSACTION EFFICIENCIES ACROSS INDUSTRY SEGMENTS.
TTM/EPS;-Rs.47.61 (+1112.33%yoy)
TTM/PE:-7.34 /SECTOR PE:-36.30
BOOK VALUE:-Rs.726.45
PRICE TO BOOK VALUE:-0.49
DIVIDEND YIELD:-0.57%
FACE VALUE: - Rs.2/
EQUITY: - 9.22cr.
SHARE HOLDING PATTERN:- PROMOTER—45.60% ---FII---4.11%----DII---0.10%
& PUBLIC---50.20%.
All-Time High: --3044.70 made on 29.6.2007.
All-Time Low: --39.55 made on 25.3.2020.
Recent Low: - 140.65 made on 16.5.2022.
Open-336--High-349.65--Low-333—Close-349.65 on 26.7.2024.
Support:321/316/314.65/259/239.05/223/221.90/162.85/158/146.50/140.65.
Resistance:357.20/360.20/364/389/394.20/435.30/443/463.70/473.65/488.90/492/504.40/552.70/690.75/790/824/867/902/904/931.30/959.95/1027/1198/1221.90/1454.14/1625/1723----.
(Bold and underlined figures are most important)
It is on a very weak footing technically now but it seems that it is shaping up well for an up move but now it is consolidating and may take some time to get into the strong up momentum track and it may happen in coming weeks/months. But the good point is that from here the downside risk seems to be limited to the range of 334.50---329---321---316---314.65 (moving down the worst price for the stock is the said range), but break below 314.65 can drag it down to 259---239 or much lower levels, please note that if it has the strength it should not break the level of 334 & 329 on the closing basis. Therefore it seems that the current price is a good entry point. Moving up from here it will gain good strength once it moves above 394.20 & 403.50 levels and sustain on the closing basis, then the broad upside target could be 458---503---547---602---616---690.75---749 and sustain close above 749 will put it on a very strong up momentum track.
In view of the above observation, it is suggested that investors
can accumulate the stock now and on the sharp decline at appropriate points but
not below the range of 321---314.50
with a strict stop loss of 300. The
stock has the potential to double or more in 15-18 months from here. Please
note that the short stop loss would be 320 but the authentic stop loss would be
300.
IMPORTANT: DO NOT TRADE OR INVEST WITHOUT STOP LOSS.
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 because that too keeps on
changing 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
Mobile—8240951127/9831313654.
