RECOMMENDATION - BUY AT CMP OF 197
TARGET - 247 , TIME -1 MONTHS
=>The stock had been trading in a sideways trading range after topping out in Nov2010. This time based correction has ensured that enough steam has been built for propelling it to much higher levels.
=>A breakout of this range constituting a triangle has occured today.
=> Its ability to consolidate above 08 high is a testimony of its supreme strenght.
The positive view stands intact as long as the stock trades above 184 on a closing basis.A must buy for every momentum trader!! Would not be surprised to see a return of 10% in a couple of days !!
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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