RECOMMENDATION - BUY AT CMP OF 234
TARGET - 295 , TIME -1 MONTH
=>The stock had been trading in a sideways trading range after topping out in March 2010.
=>This sideways move constitutes a pattern called 'Rectangle'. Breakout of this pattern occured last week with a stupendous increase in turnover.
=>Trader's remorse followed post the breakout - Indecisive choppy movement.
=> Vigor of today's price move clearly tilts the table in favor of the bulls decisively.
The positive view stands intact as long as the stock trades above 208 on a closing basis. The stock is expected to rally 20% in a very short span of time.
Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.
