Vikas WSP stands Firm & Second Rally to start soon

At last Vikas WSP breaks its freeze level resistance today & normal trading started today on this counter & a huge 4,028,397( 40. 28 Lakh) shares were traded in the range of lower freeze & upper freeze level of Rs. 67.85 - 74.95.

It was expected that at this level trade volume shall increase as the investors who have entered at Rs.40-50 levels were waiting to book their profit & today it was the day when they have exited this stock. Today many old investors who were holding this stock for 6 years have also exited in Panic.

Interestingly, today it remained on lower circuit of 5 % for only 15-20 minutes & again bounced back as still lot of buying is happening in this stock at this level. This only shows the inherent strength in Vikas WSP at this level as normally in such cases stocks go down on reverse circuit breakers for quite some days, which has not at all happened on this counter.

Pl. note that today 40 Lakh shares have also been bought around Rs. 70 & these are those investors who are going to hold it for some time & shall sell it at a premium as lot of steam is left in this stock. Many old investors are still holding their stocks patiently & they know that it shall cross Rs. 100.

So once again, at present seeing the stock movement of Vikas WSP, some more selling/ profit booking can come in this stock in next few days & then again consolidation shall happen & second rally - northward shall start on this counter. So those who have bought it today & those who are holding this stock earlier can wait ( if they have the patience) for some more time & this stock shall give them certainly a chance to sell their holdings at above Rs. 100 levels.

Happy Trading.


Graph Credit : Myiris.com dated 17.09.2007