Nahar Spinners - C&H breakout
With the whole textile industry getting hyped and some of these stocks forming large multi year consolidation bottoms..expect some good moves in this sector...
Stocks like Ambika have already broken the consolidation zone and would be great pickups on any good pullbacks..
Nahar on the other hand is yet to really lift off..
Long at current prices (50%) allocation and 50% further only if it breaks out of a pullback to 320 levels..
Taking a smaller upfront allocation coz the SL here would be 300 which is deep..so with 50% allocation and ideally total allocation of 7-8% the max one would loose is 0.7-0.8% of their total capital which is manageable.
Stocks like Ambika have already broken the consolidation zone and would be great pickups on any good pullbacks..
Nahar on the other hand is yet to really lift off..
Long at current prices (50%) allocation and 50% further only if it breaks out of a pullback to 320 levels..
Taking a smaller upfront allocation coz the SL here would be 300 which is deep..so with 50% allocation and ideally total allocation of 7-8% the max one would loose is 0.7-0.8% of their total capital which is manageable.
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