We have used this strategy number of times and found it extremely rewarding as our clients have benefitted with it number of times and the stock in question is Powergrid which generally drops to the level up to 183 or 184 and in its bounce back can touch upto 190 levels. This is the reason it is suggested to trade in limited stocks to know in and out behavior of that stock.
However, in one odd case it even failed and it even touched a low of 174 also. Please remember that on breaking 180 level, it can fall till 178,174 levels. However, this stock is a gem stock and thus even if added to portfolio will do not harm as this is a Mini Navratna of which we can be proud of and is managed professionally.
Have a look at the chart and see that how many times it has bounced but remember timing is most important and it requires guts of steel to enter in the market when their is blood on the street.
Happy stock hunting and you can get such powerful short term stocks here and if you interested in best NSE Intraday tips do click the said link and be part of the winning team and not the cribbing team in life.
Powergrid |