AEL is one of those stocks that will be in the limelight in 2020. In my earlier posts on this counter, I have been mentioning to buy this if you had Guts. Hope you did then keep adding on Dips.
Going by the price action of the counter we can see that it has taken support at 21.00, and headed back upto the lower end of the preset resistance zone between 21.80 and 24.10. You don't need rocket science to figure out that this zone itself will have gains if you buy at 21.80 and sell at 24.10, which is an 8.10% return. IF you get this in a month that is a 97%+ return annualized, and if you get that in 4 months it will be 24.3% annualized and if you get it in 6 months it will be 16.2% annualized. That is only if you want to trade between the low of the zone and the high of the zone.
If we see a breakout above 24.10 with volumes we will see the prices testing 25.00 which incidentally was the IPO price.
After a strong consolidation within the present resistance zone we will see higher highs with strong profit growths and increased activity in their order books. That needs time. Hence let's keep tracking AEL along the way.
My 1st post on this counter is given here, which is worth a read
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