SUM Chart, page-1400

Can we hold this level?.

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From a weekly perspective, SUM remained flat on 18. We did dip to 16 before an announcement helped us stem the drop. A high of 19.5. So we are somewhere in between.

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So what is happening? Technical play mostly, with small help from fundamental. It has dropped from 59 to 16, around 70% drop, so one would think a large portion of downplay may have happened. Risk reward may possibly be much better from here. That's my thought, but anything can happen, so please dyor.

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Spec side of play is very poor. Ravgnome does a daily wrap of stocks in day thread. Yesterday 6 stocks made 52 week high. And 89 stocks made 52 week low. So it's very dire state currently, some effect we are also experiencing.

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Personally I played some of my trading stocks, sold and bought. My head average slight drop to 20.5 from 21.5 and oppies 6.9 from 7.1 of last week. So down on both.

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So what may happen next week? I feel technicals will be in control. Any announcements should help us, there is little chance of an adverse announcement at this stage. Many feel risk reward may be very good from this level. This week announcement too indicating there is a strong feeling by management that something big could happen here.

We need to get over 22. But first, hold this level. Today's play was somewhat positive, sellers drying up. An incursion into 20s may not be far away. Will that happen? Let's hope so. Enjoy your weekend and all the best.