Our Buy recommendation report on the stock around Rs. 120 odd levels on 6th March 2014 now makes a high of 177 (CMP Rs. 175) has given a return of 30+ % in 2.5 months. The stock in the can consolidate and can march ahead towards its next target of 212.
Invest or trade objectively with favorable risk/reward ratio should be the motive in which ever markets one opts to be in.
"Know what you own, and know why you own it." - Peter Lynch
Raju V Angadi
Equity Research Analyst
To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services.
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DAILY CHART
WEEKLY CHART
·
MBL INFRA has formed a Cup and Handle formation
on both daily and weekly charts
·
The stock is in the process of forming breaking
out of the inverted H & S pattern, also trading above 21 EMA from past 12
trading sessions and also consolidating above key support level of 120 in daily
charts
·
The RSI has crossed above 60 in both daily and
weekly charts indicating the strength in the trend
·
The H & S pattern targets for the counter in
short term (2- 4 weeks) > 125 could be 150 – 160 and the Cup & Handle
pattern targets in medium term (2 – 3 months) can be 180 – 212
· The stock can be accumulated from current levels
Rs. 120.90 and on dips around 112 and 108 with a stop loss below 100 on closing
basis for targets of 160 / 180 and 212
Raju V Angadi
Equity Research Analyst
To know more about probable counts analysis on NIFTY, BANK NIFTY and CNX IT along with 5 stocks for the month check out our newsletters and advisory services contact us back on rvangadi@googlemail.com (OR) swingresearch5@gmail.com (OR) +91 78291 55900
To swing your fortune higher join us and be ahead to track market turns ....
Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets
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