RECOMMENDATION - BUY AT CMP
TARGET - 2975 (TIME - 2 MONTHS), 3420 (TIME-6MONTHS)
=> The stock was one of the strongest performers in bull run that began in 08-09.
=> The fall in stock has been docile during the corrective spree in the market since 3 odd months
=> Active participation in the rise and relative dormancy during market falls establishes its internal strength.
=> Break of downward sloping trendline probably hints at the formation of a bottom.
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.
TARGET - 2975 (TIME - 2 MONTHS), 3420 (TIME-6MONTHS)
=> The stock was one of the strongest performers in bull run that began in 08-09.
=> The fall in stock has been docile during the corrective spree in the market since 3 odd months
=> Active participation in the rise and relative dormancy during market falls establishes its internal strength.
=> Break of downward sloping trendline probably hints at the formation of a bottom.
The positive view stands intact as long as the stock trades above 2440on a closing basis. Below this level, the perceived higher top and higher bottom formation would cease to exist and hence long positions would not be warranted.
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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