Turning Bullish: Easy Trip Planners

6 sept.

This stock has been in consolidation for al long time.
Resistance levels to watch out 47, 52.
It has strong support around 40 levels.
Volume spurt confirms the interest of smart money in the scrip.
Good entry could be when 20 EMA crosses 50 EMA and that should happen in the forth coming sessions.
However, we can expect some selling pressure in the stock in next few sessions.

6 sept.

Note

As told in the morning, the stock is experiencing some selling pressure.

25 sept.

Note

Bad News?
Promoter of Easy Trip Planners Nishant Pitti has sold 8.5% stake, or 15 crore equity shares via block deals.
The floor price per share is expected to be Rs 38, with a total transaction value of nearly Rs 580 crore.
Nishant Pitti held a 28.13% stake in Easy Trip at the end of June 2024.

When the promoter sells the holding stock, it is considered as a negative sign.
However, if the promotor is selling a stock o reinvest or raise fund for Capex or new businesses, it may be a good sign in the long run.
Rumors are doing rounds that the promotor is planning to enter into EV bus business and raining the capital for that.
Let us wait and see.
Long term investors need not worry.