Tuesday, May 23, 2017

HUDCO Trading Range Between Rs.60-80

HUDCO IPO listing was good as per the market speculations and its been good to see another IPO listed in green. As the grey market was very much active in this IPO from the start it was on the card to list it in premium.

As the HUDCO has good number of equity and the trading is going well in this stock one can expect a 3-4 rupees move each day. The market is moving up and down making new highs but still there is fresh money needed to take it further up. HUDCO at other end went down after listing. It was listed around Rs.73 and then it moved to 77-78 range and came back to Rs.72 on listing day. The things are looking good in this stock.

As per the analyst HUDCO will trade in range between Rs.60-80. As the stock is a new in trading range it might take some time to settle but the traders will take this in mind that stock has been volatile and if market support and takes a new high it might reach to 75-80 levels in next 1-2 months.

As per current scenario the trading range of HUDCO will be Rs.60 to Rs.80 so one can expect around 3-4 rupees a daily range and intraday players take play it well.

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