Cyient - Reversal play

2023년 2월 2일

Some stocks seem to be bottoming out. Cyient seems to be one such company. Good result..nice relative strength and a good setup.
The stock is making higher lows and higher highs. Taken support around the 200EMA.
Now is on the verge of breaking the diagonal trendline but more importantly also the AVWAP of this entire fall..

Long above 905 with a 7% stoploss.

Valuations seem to be supportive too..and the order book is healthy..
One of those which can give steady returns in this otherwise challenging market.