Exit from the ICSA for very short term as it is likely to correct more along with the broader indices. The next support is around the 149/- only hence investors should better to exit right now and re-enter at the lower levels for the very short term. So, traders can go short even at the current levels targeting the T1:163/- and T2:149/-in the upcoming weeks.
Actually I am not holding any shares in this stock right now but I am tracking very closely.
The main reasons for the call:
1. The company chairman and MD clearly stated that “second half is also going to be not that good”
2. No fresh considerable orders in the past couple of quarters which draining the order book around the 1.5 times to its trailing revenues and is to executed over 18 month period which clearly tells that the upcoming quarters we are going to see a dip in top line.
With thanks
Be and make
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