SJS Enterprises - Channel Broken - Trend Reversal
Sjs Enterprises is a fundamentally strong stock. Promoter increased the stake in Q1. Debtor days reduced from 80 to 68. Excellent OPM
Ace investor Ashish Kacholia has sold 0.6% of his stake which is 11.5Cr of shares in sjs on Aug 18, which leads to speculate whether the stock has exceeded overhyped valuations. Also Working capital increased to 233 days from 128 days which was the only downside.
Stock closed at the end of the channel on Friday leaving indecision.
Today, Parallel channel broken on both Daily and Weekly timeframe.
Disclosure: Exited the stock
Ace investor Ashish Kacholia has sold 0.6% of his stake which is 11.5Cr of shares in sjs on Aug 18, which leads to speculate whether the stock has exceeded overhyped valuations. Also Working capital increased to 233 days from 128 days which was the only downside.
Stock closed at the end of the channel on Friday leaving indecision.
Today, Parallel channel broken on both Daily and Weekly timeframe.
Disclosure: Exited the stock
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