Liberty Shoes seem to be back in fashion in the stock market atleast.
RECOMMENDATION - BUY AT CMP OF 109
Trading Call
Target- 144, Time- t+14 days, Stop-102
Rationale :
Conventional Technicals : A breakout seems to have occured from a relatively rare 'Diamond' pattern with conspicuous increase in turnover at momentum.
Elliott Perspective : Wave 2 of the rally that began in March 09 seems to have ended around 90. Today's price action seems to confirm that we are well and truly on the wave 3.
Kindly note that this is a momentum based trading call and hence adherence to stops for capital protection is imperative.
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.
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