powerfulpicks call update: On July 1st, I had given a call on Venkeys at 472 and people who had bought as per my call has more than doubled their money in just 2 months with this unbelievable stock.
Fundamental opinion: If you look at their business forecast for this year, the current P/E and the book value, the stock still has a room for another 15% up move above 960, giving a potential price of 1132 in a year's time.
Technical opinion: If Venkeys can close above 987, which is its resistance level, there will no stopping Venkeys from gradually moving to 1110. However, if Venkeys corrects to below 900, it can go down all the way up to 742.
Summary: Long term investors can buy Venkeys fresh if it closes well above 987 with substantial volume. Or if it corrects, should buy only around 750-760. For those who had bought on my call and own this stock already, hold is being advised for now, unless you see it slip below 940.
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