NEYVELI stock peformance!

#1
Hi all,

Three months ago I bought NEYVELI shares after reading a recomendation for BUY @ 103.50 per share. Yesterday I watched the stock hit 52 week low. I did sell it off when it was around Rs 75.

Does anybody recently have any experiences to share about NEYVELI. It is moving on thin volumes.

Shepherd
 

trade4putuval

Well-Known Member
#2
Hi all,

Three months ago I bought NEYVELI shares after reading a recomendation for BUY @ 103.50 per share. Yesterday I watched the stock hit 52 week low. I did sell it off when it was around Rs 75.

Does anybody recently have any experiences to share about NEYVELI. It is moving on thin volumes.

Shepherd
Looks like you are having the habit of buying high and selling low. Neyveli formed a hammer pattern yesterday supported by various technicals. This indicates that the move will be upside from tomorrow, but don't expect the stock to touch 103 again very soon.

But I wonder why would you trade the stock when the world wide coal resources are drying up fast or rendered useless due to inconsistent weather conditions.

This is my opinion. You need to do some analysis before you listen to any recommendation or tip.
 
#4
Thanks one and all for the replies. I did not do any analysis. I just jumped on the bandwagon. I was recently thinking due to the political turmoil in Andhra Pradesh and due to strike by coal workers in Singereni, the coal demand would go up and thus the revenue earned by NEYVELI (of course by other companies too). Looks like that has been completely ignored. I observed Rs 80 as a good support/resistance. Since it is moving on thin volumes, huge selling/buying pressure may see the stock move directionally? Does technical analysis hold good in such a context?

Shepherd
 
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