I am presently invested in Vodafone Idea, having acquired stocks valued at ?7.30 each. The future seems promising for these shares. The support level at ?7.5 should be able to mitigate any potential downside risks. A positive surge from there could increase the stock price to as high as ?10, even ?11.
From a broader perspective, a solid breach above the ?11 mark is necessary to invigorate the momentum and aim for a higher target of ?15 and subsequently ?18. Therefore, it is advisable to hold onto the stock. You should place a stop-loss order at ?6.9. When the stock price reaches ?8.50, you may want to adjust the stop-loss to ?7.80.
Thereafter, if the price touches ?9.8, it will be wise to further move the stop-loss to ?8.5. At ?10, consider selling 40 per cent of your shares while raising the stop-loss to ?9.3 for the remaining shares. If the stock surpasses ?10, increment the stop-loss by ?0.50 for each ?1 rise in the stock value. Finally, consider exiting the stock at the ?17 mark.
In another case, I have previously purchased shares of Praj Industries at ?527. How does it look for the long haul? Praj Industries’ current stock price stands at ?348.50 with a significant downward trend. No signs of a reversal are detectable at the moment.
Immediate support is found at ?335. If a rebound occurs from this point, a recovery rally leading up to ?440 is quite plausible. However, the stock might resume its broader downward trajectory beyond this point, and even break the support at ?335. This break might pull the share price down to ?270.
One has a choice to either dispose of the stock right away, or if the risk can be tolerated, to hold onto it for the time being with a stop-loss at ?320. If the price ascends to ?380, it might benefit the holder to move the stop-loss to ?360. This stop-loss might be further revised to ?390 when the price touches ?410. A prudent exit strategy would be at the ?430 level. It’s crucially important to always set a stop-loss to mitigate losses and avoid unfavorable positions.
If we look at Borosil Renewables, where my purchase price clocked at ?582, we can see that the stock appears to be trapped within a certain range. Should I hold on? Borosil Renewables with its current price at ?580.85, has been experiencing a horizontal movement for over two years now. The trading range has broadly been between ?380 and ?680.
Nevertheless, the forecast leans more to the optimistic side. The stock has medium support levels at ?525 and ?480. The shorter-term moving averages show an upward trend suggesting a bullish outlook. The possibility of a breakout from the long-standing range above ?680 can potentially spur the stock to reach as high as ?980-?1,000.
Retaining the stock is a good option at this point. Accumulation at the price range of ?530 may present an opportunity. A stop-loss at ?360 would be recommendable. Increasing the stop-loss to ?630 when the price ascends to ?740 should be considered as well.
Further upward adjustments to the stop-loss to ?720 and ?880 are recommended when the price levels reach ?810 and ?940 respectively. At ?980, selling half of the holdings might be a consideration while holding onto the remaining chunk. It would then be advisable to raise your stop-loss by ?50 for every surge of ?100 in share price.
Finally, I bought Windlas Biotech shares at ?1,003. What’s the short-term prognosis? Windlas Biotech’s current price is at ?923.60. The long-term trend reveals an upward trajectory, however, there appears to be a dip in the short run. Critical support points to note are ?830 and ?790.
Provided that the stock maintains above these support points, the long-term uptrend should remain unaffected. A solid breach over the ?1,100 level will confirm the resumption of the ascent. This break holds the potential to drive the stock price to reach upto ?1,400-1,500 in the upcoming months.
If one’s risk tolerance is high and the stock can be held long-term, a purchase at ?880 can be considered. A stop-loss limit set at ?730 would be judicious. When the price hits ?1,180 it should be beneficial to advance the stop-loss to ?1,020.
Should the share price climb to ?1,320 and ?1,420, it would be advisable to revise the stop-loss upward to ?1,220 and ?1,340 respectively. A sensible exit point from the stock would be at ?1,480.
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