Sinner Energy ( SIENERGY)
As discussed in last post Sinner touched Rs 17.5 Last Friday once it started moving above 17. CNX SMALL CAP Index was down 4.5% for the week,Sinner showed tremedous strength in such a weak market. It was a weekly breakout target. We have been covering this stock from Rs 13 can be seen here and stock is almost up 30% up from our initial call in just 1 month. As aleading FII has bought good amount of shares in range of Rs 14-14.5 it appears that the big boys have entered Sinner Energy and we have seen a decent rise.
On Fundamental side Current Notification on BSE site looks promising & shows Sinner Energy to be going through some sort of transformation with its entering new sector and also going for name change & a change of its HQ. As a technical analyst my job is to understand the price, As age of old adage of Stock market says ‘Price knows everything well in advance’ and we were able to capture maximum percentage of this move.
As seen in charts below ,extended target is coming in range of 18.6-19 and Elliot wave target is coming in range of Rs 20. Traders who are holding position can use the rise to exit, or use TSL as per target given below.
Fresh Trade can be taken in range of 17.5-17.6 With SL of 16.5 Tgt 18.2/19/19.6/21
The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis based on my Studies.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.Bramesh Bhandari and his family/associates/ analysts would have exposure in the securities mentioned in the above article.