Buy on Dips - with Seylan Non voting Shares

Seylan Bank Plc just completed its Right issue, tipped to be raising 4.38 Billion. This could take their Total Asset Base above 500 Billion for the 1st time. Their NAV will be 100.00 and above. However the Voting Stock Price is at 53.80, whilst the Non Voting is at 35.00. Converted new shares will hit the market within 2 weeks from now.  Some think both stocks will be volatile up until the new shares get traded in the market. In the mean time I like to suggest for those who would want to Buy on Dips to try it out with Selyan Bank non Voting shares. Despite the rights issue of this counter was at 24.50, given the massive spread between its NAV of 100.00+, and the Stock price, it is very hard to imagine that any one would be selling it below 31.00 once the new shares start trading in the market. Buying on dips as such suits fine for this counter, as who ever would enter a trade on the stock will be prepared to accumulate on price weakness. Based on the price action we saw in the last few weeks we can see that a support between 31.00 and 32.50 will be strong. Anyone who would want to enter or accumulate on dips can get in within that zone if it were to come down and test that area. In the next few days and weeks the price will fluctuate within the inside bar of the 29th Nov '19, that's between 33.20 and 36.00. A Break above 36.00 will push it to test 37.00 in the short term. A break down below 33.20 will allow the prices to test the 31.00 to 32.50 zone.