my views on Astral
Pros
MFI 80 and %B > 80 suggest strong overbought move in stock.
VWAP,Alligator, ADX, RSI, MACD - all indicator show BUY position.
Breakout given with strong volume on 4th Jan
High and increasing FII holding
Cons:
P/B of Astral is around 25 which is very high in its segment.
My Strategy:
No fresh entry.
if in portfolio, hold with trailing stop loss
if 2470 is broken with strong volume then momentum to continue upwards
Else stock will test 2375 or lower.
Pros
MFI 80 and %B > 80 suggest strong overbought move in stock.
VWAP,Alligator, ADX, RSI, MACD - all indicator show BUY position.
Breakout given with strong volume on 4th Jan
High and increasing FII holding
Cons:
P/B of Astral is around 25 which is very high in its segment.
My Strategy:
No fresh entry.
if in portfolio, hold with trailing stop loss
if 2470 is broken with strong volume then momentum to continue upwards
Else stock will test 2375 or lower.