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Stocks

SmartLink Ends at 100.4, at 20% circuit

After a dramatic dividend of Rs. 32 per share, SmartLink went to Rs. 100.40 on the BSE (100.6 on the NSE) at the 20% upper circuit.

The stock’s now at a 3 year high, breaking the Aug 2008 high of around 99.25. Volumes are decent – about 30 cr. on each exchange (60 cr. in total)

SmartLink chart

Technically now this stock is showing strength. On the weekly, the MACD is also showing a very positive trend, and the dailies look just as attractive. If you get in now the earliest real tech stop is 78 – that was the last area of consolidation, and it’s 22% down, so you have to be careful.

I thought the stock would go higher, but I forgot about circuits. Let’s see how it plays out tomorrow. Have piled on some more now.

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