Business Daily from THE HINDU group of publications
Wednesday, Mar 12, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Mar 12, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
|
Home Page
-
Stocks Markets - Recommendation
We recommend a buy in Bajaj Hindusthan from a short-term perspective. It is evident from the charts of Bajaj Hindusthan, that following a steep fall from Rs 399 to Rs 117 in short period of nine trading sessions (from January 9 to 22), the stock found support and began to move up. The up-move that followed retraced more than 50 per cent (fibonacci retracement number) of the steep decline recorded in January. The stock’s 13 per cent jump on March 11, from the 200-day moving average adds strength to the uptrend. The daily momentum indicator of the stock also bounced off from the 40 level and is rising in the neutral region towards the bullish zone. Moving average convergence divergence indicator is likely to enter the positive territory. We are bullish on the stock in the short-term. We expect the stock’s current uptrend to continue further to our target price level of Rs 270 in the short-term. Investors with a short-term perspective can buy the stock while keeping the stop-loss at Rs 214. Yoganand D.More Stories on : Stocks | Recommendation | Sugar
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
