Your Ad Here

Sunday, September 13, 2009

Buy : PSL

veer on Sunday, September 13, 2009 |


with medium-term perspective can consider investing in the stock of PSL. The stock’s long-term downtrend that commenced in late December 2007 from the peak of Rs 588 halted in March at Rs 59.5. Since this low, PSL has been on an intermediate-term uptrend. Moreover, higher volumes were witnessed on advance days since July. Recently, the stock breached its medium-term resistance around Rs 160.

The daily and weekly momentum indicators are showing signs of optimism. We believe that in the medium-term, PSL can prolong its up move to Rs 270, with a likely pause around the psychological resistance of Rs 200. Investors can buy while maintaining Rs 148 as stop-loss. Short-term traders can buy with a target of Rs 189 and stiff stop at Rs 163


S:BL

0 comments:

Post a Comment

Disclaimer

Information presented on this site is a guide only. It may not necessarily be correct and is not intended to be taken as financial advice nor has it been prepared with regard to the individual investment needs and objectives or financial situation of any particular person. The blogs/posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes. Stock quotes are believed to be accurate and correctly dated, but Stockxnews does not warrant or guarantee their accuracy or date.
 
Design by SXN. Converted To Blogger Template By SXN .