Trent Ltd. (Westside): Target achieved

1st July 2019, with the onset of the 2nd half of today's trading session, the target for Trent Ltd. of Rs. 460 set on 25th June has been attained (See the previous related post). The call was generated when the price was hovering around Rs. 433 and in less than 5 trading days, an aimed 6.25% upward movement has been achieved.

The stock looks strong even at these levels. The stock has been taking continuous support at Rs. 455 levels and swing traders can book some of their profits here. However, I maintain my 'HOLD' position on the stock. Fundamentally the company looks good and there is no negative information is afloat in the market.

Also by volume analysis, on the 'buying' days the delivery percentage has been significantly high which means that people are still positive about the stock - another reason the stock is looking strong. In the last 2 years, the stock has increased by over 94% to date with 8% increase in the last week.

I do not feel the stock is in the 'BUY' zone anymore for swing traders until there is some news that can make it volatile. However, for a medium and long term buy call, the stock looks good. Presently any new positions in either direction will have high risk. The important levels for the stock are Rs. 448 and Rs.440, latter being very important. Breaching this will be an indication for re-evaluating the current 'hold' position.

*Disclaimer: I am also a learning investor and do not persuade anyone for any kind of trade. I am not liable for anyone's loss. I have only shared my opinions and study for the reference of others.