MAPMYINDIA : OverValued ?
https://www.tradingview.com/chart/KN4SKZ0n/?mind=CHVklhbyQSGjYp7JdUxW6g&symbol=NSE%3ANIFTY&mind-comment=tAhxoLaqQLKN4crPvzAbFQ
It has been observed a remarkable increase in stock's trading volume (approx. 20x each day in last 2 days) and price over the last two days as well. The current price has reached what our system projected as the best-case scenario for the next 12-months. Hence leaving no scope for further increase and its sustainability.
Though this surge seems to align with market behaviors where high volume often indicates strong buying interest and a positive outlook on the stock's value. However, such spike also invites questions on this trend and its sustainability. Often it has been seen that a sharp profit booking start before the trend continuation.
Atleast a 25% correction in this stock price is expected.
It has been observed a remarkable increase in stock's trading volume (approx. 20x each day in last 2 days) and price over the last two days as well. The current price has reached what our system projected as the best-case scenario for the next 12-months. Hence leaving no scope for further increase and its sustainability.
Though this surge seems to align with market behaviors where high volume often indicates strong buying interest and a positive outlook on the stock's value. However, such spike also invites questions on this trend and its sustainability. Often it has been seen that a sharp profit booking start before the trend continuation.
Atleast a 25% correction in this stock price is expected.
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Twitter: twitter.com/StoxWare
TradingView: tradingview.com/u/Stox_Ware/
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