Radico has been one of my fav stock but price action in 2019 has been terrible, to say the least.
Radico stock has come off from the highs of 497 to lows of 260 levels. Even during the last six months when the market has recovered – Radico stock has not shown any momentum. As you can see in the chart below, there has been price action compression.
Source: Chartalert.com
What attracted my interest was the 5% bullish price action move on very strong volumes. This move can be the start of Bullish run for the stock and it can go back to previous highs in 2020. The Stop Loss should be placed below 295
Radico Khaitan (earlier Rampur Distillery Company) is among the largest manufacturers of Indian made foreign liquor (IMFL) in India. The company is also a supplier of Indian made Indian liquor (IMIL) and bulk alcohol in India. The best part its available at very attractive valuations. All we need is a good price action which happened on the previous trading day.
Please do your own due diligence before trading.
What is price action compression?
Please read the following article: https://www.smarketpremium.com/2020/01/10/radico-price-action-compression/