Can Senco Gold Sustain the breakout?

16 apr

SENCO is a curious stock for me. The business is growing and easy to understand. With Kiara Advani as brand ambassador the brand has been able to build pan India trust. But all of us in the stock market know that charts have a life of their own. The case remains to be seen whether this solid breakout can be held.

The breakout came on the 15th of April which was a dull day because of Iran attacking Israel over the preceding weekend. The stock is also rallying because gold is rallying. Too many variables benefiting it (from chart strength to business fundamentals to sectoral tailwinds).

The problem however is that sometimes charts do not hold their breakouts and that is what is visible from today's candle. Too early to call anything.

Let me know in the comments below whether you feel the stock can hold its breakout?

My Stop Loss is at 870. I remain bullish from a medium to long term perspective.