LINC PENS (BUY) 28-31 (SHORT TERM Target1) 38 (MEDIUM TERM Target2) 45-54 (Sl) 25 . Linc Pens is aiming to be among the top two pen manufacturers in the country in 2009-10. Buy on declines.
EXIDE INDS (BUY) 81-82 (Target1) 83.5 (Target2) 85 & 87+ (Sl) 77
Nagarjuna Construction (Rs 122.4) Sell : A negative divergence in the weekly relative strength index supports the stock’s reversal. Since July peak, it has been on a short-term downtrend. On August 10, the stock tumbled 6 per cent penetrating its intermediate-term uptrend-line as well as 50-day moving average. Moreover, the stock reinforced the downtrend by slipping 6 per cent on August 17. The daily RSI is on the brink of entering the bearish zone and weekly RSI has entered the neutral region from the bullish zone. We are bearish on the stock from a short-term horizon.
We expect it to decline until it hits our price target of Rs 109. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 129.
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Tuesday, August 18, 2009
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All the advises,calls,tips and predictions are neither an offer nor a solicitation to purchase or sell securities.The information and views given by writer is believed to be reliable but no responsibility (liability) is accepted for error of facts and opinion.Writer may be trading in or having positions in stock markets.
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