As of now total foreign holding is 142,655,730 out of which two foreign partners having 142,500,000 (71,250,000x2). Balance 155,730.
Therefore, we will not expect a foreign sale during next upturn instead foreign buying. This is a positive scenario.
Why this downward trend from 22 to 21? This is because traders who bought after the split announcement at the range of 200-220, selling at breakeven or loss due to margin issues.
Also it can be profit taking of someone who pushed the share price from 172-220.
Whatever the reason I have two resistance levels and first one is Rs. 20.30.
Second resistance level is Rs. 18.80 which I don’t think can be broken due to future value of the stock.
Try to figure out the bottom level of AAIC between 18.8 and 20.30 to either average down your existing holding or to purchase as a long term investment.