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Buy Shayam Telecom on dips: Sukhani
Correction in Shyam Telecom may well be over and it is fair to expect the stock to resume its upmove and eventually to cross its Rs 77 high. It is a perfect buy in dips candidate, says Sudarshan Sukhani of Technical Trends.
Correction in Shyam Telecom may well be over and it is fair to expect the stock to resume its upmove and eventually to cross its Rs 77 high. It is a perfect buy in dips candidate, says Sudarshan Sukhani of Technical Trends.
Sukhani told CNBC-TV18, "Shyam Telecom moved up rapidly touching a high of Rs 77 two weeks ago, that was a very big breakout. Such breakouts invariably need to corrections and which is what happened with this stock and the stock has since then corrected to Rs 68.40. That correction may well be over and it is fair to expect the stock to resume its upmove and eventually to cross its Rs 77 high. My reason for buying is that this is a perfect buy in dips candidate. Buying Shyam Telecom with a modest intraday target of Rs 71.40."
