Sterling Biotech ! Major consolidation

Hello friends !

Sterling biotech - The stock has been in consolidation in last 15 months or so. That is a very huge time to consolidate. & has build a strong strong base @ 90. Its been in a range of 105 to 118. Neither closing > 118, nor < 105. Screaming buy close to 105.

1. - If u r a trader, keep a closing SL of 105. or buy after the stiff resistance @ 107.5-108.5 is crossed. Tgt 116-117.5.

2. But i personally prefer to take a investment bet & wouldnt restrain to take a meaty risk of 15-17 rs, to buy between 106-107, with a trading Sl of 88, tgt 134-137. T2 @least in the range of 166-170. Medium term tgt of 235-248 is also not ruled out.

TRADE UPDATES

GVKPIL - Without giving an opportunity to conservative ( as expressed yest. ) ran. Now expected to meet its first tgt of 47.8 on SAI VAAR. Once, 1 st tgt met, trail ur SL to 44.5 for T2.

PTC - Another feather in my cap. T1 met easlily. T2 is also expected to be over shot, but not so immediately. I hope major portions is booked now @ 111-112, 2re-enter @ 104-105 OR b an agressive 2carry wid a SL of 107.5 for T2.

Rajesh exports - Agressive stopped out. Conservative pocketed the 5 % profit @ 93.

Happy Sailing

OM SAI RAM.

P.S. - If positions are being taken in STERLING BIOTECH as a trader, Please keep in mind the stiff resistance @ 107.5-108.5. 11-12 ( upto ) am total traded nse quantity of 1.25 lac is a positive indication to take a trade.