VST Industries is at 50 day moving average. Is stock a buy?
Well very tough to buy when Health Minister of new Govt has already warned of higher taxes on cigarettes. VST Industries Ltd. is a public conglomerate company headquartered in Hyderabad, India. The company manufactures and distributes cigarettes
Here's the VST Ind Daily Chart
Click on the chart for Bigger View
As you can see in the chart above, VST Ind over a longer term time frame has created a resistance at price of Rs. 2000. The stock has almost thrice come off from 2000. This time stock has pulled back to 50 dma. If stock bounces off from here and takes out 2000 - then there will be many people chasing this stock for much higher levels.
If you are interested in the stock - then watch out for any good bounce from current levels to invest in the stock. A breakout above 2000 will generate strong momentum in the stock. As of now, just keep a close eye on what stock does from here.
The blogpost is purely for educational purpose. Please do your own due diligence before investing and trading.