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Thursday, November 29, 2012

Your question on Opto Circuits!

A valued reader asked this question:

Question: I hold 3000 shares of OPTO CIRCUIT @ Rs. 115, & want to know future about OPTO CIRCUIT.
Now-a-days it goes down & down.
As per my knowledge, it's a very nice stock, but FINAL IS YOUR VIEW.
If possible pls. suggest, what to do stay or quit.

Answer: I looked at the charts briefly. Opto can fall upto 80, where it has a good support.
Current fall is also with heavy volumes, so looks like large players are selling.



Fundamentally, this is not a bad scrip. So if you have a long term view 3-6 months, you can average at 80 or near-about price.

5 comments:

  1. What you have to say about L&T Fin Holdings ?

    It was trading near its IPO price in the 40s for a year.

    Suddenly during diwali it was spiked to 88 levels.

    There are rumours regarding banking licenses and everything but it still doesnt explain this sudden rise.

    the company also has sold stake in federal & plans 125Cr debentures hence total incoming cash is around 500Cr in short time...but what the company is going to do with such cash is not known.

    from monday it is going into T Segment ..hence i am seeing downfall..

    What do you think about this scrip ?

    ReplyDelete
  2. Yes, technically chart is broken now. If you plot a Fibonacci, its hovering around 38% retracement of sudden rise from 50 to 88. Next support at 71 at 50% retracement. Then at 67, 61.

    Fundamentally, at 11,000 crore market cap, it looks expensive than some existing operating banks.

    ReplyDelete
  3. correction - 13,000 crore market cap.

    ReplyDelete
  4. Opto circuits promoters are suspect.

    ReplyDelete
  5. I hold 500 shares of OPTO CIRCUIT @ Rs. 95
    It’s going down from past many months.
    As per my knowledge, it's a very nice stock, but wanna know your view on it.
    If possible pls. suggest the short term and long term target.
    Should i hold or quit?

    ReplyDelete

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