Venky's stock has made a big move in 2017. It's up 3.6x in 2017 Year to Date - mindboggling move. It started the year at 426 and now it's trading at 1970 levels
But it's interesting to note that the stock broke out to New high in July 2016 above 400-420 and then it did nothing great for following six months. I am not sure how many would have persisted with this breakout for so long. This is how the stock looked in Jan 2017
There is a very simple lesson one should always remember - Never take your eyes off of a breakout play even six months down the road and be ready to jump back in once momentum resumes. Now let us you assume you missed that too. Then, what's the best way to play in case you miss the move? I am not talking of chasing.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers