A post on HEXP was shared on the 12th. The next working day was Monday the 14th Jan 2019. That was the ex dividend date for the counter. Those who were happy with the Dividend of 3/00 sold literally. They sold more than 6000 shares below 80/= and above 78/= the range recommended. Someone might say 'OH! only 6000?'. If so how much did you buy? 1 share or 1000 shares? This blog is not for Market Makers or Flamboyant big time traders. This blog serves to save and help Retail Traders who are the succours of the Sharks. Therefore any retailer who bought on this date would have seen the counter hitting the Target in 4 days (15th was pongal).
92/00 is the high that we saw in May 2017. Thereafter it took 13 months of consolidation to reach a low of 60/00 in July of 2018. Then in just 7 months the price checked in at 92/00. That was during the last week. If the price hit higher then we are moving into 2016 highs of between 95/00 and 104/50. Ideal Scenario is that We may not hit into that range immediately. But it will check in there, based on the level of consolidation. Consolidation above 85/00 would mean that we will see the said range been tested within weeks. But break below that and moving to 80/00 and towards 76/00, will prolong the consolidation. Must add that the price could test this range between 95 and 104/50 in euphoric price action, which we have seen many a times.
Trading at these levels won't be the ideal. Let's wait for the consolidation.
For those who would want to trade first check the stop loss levels, and the volumes that you can easily move out as this counter is illiquid.
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