• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

We recommend a buy in Hero Honda Motors at current price. The stock has been on a medium-term uptrend since April 2007 low of Rs 565. In the short-term also, the stock has been in an uptrend from the support level of Rs 660. The stock’s current up move has penetrated the long-term moving average line (200-day) and the medium-term moving average line (50-day), which is signifying beginning of a rally. On November 29, the stock displayed additional strength by gaining more than 3 per cent, accompanied by strong volumes. The weekly moving average convergence divergence is currently featuring in the positive region. The daily momentum indicator is on the verge of entering the bullish region. We note that the immediate support for the stock is at Rs 660 and the next support is at Rs 620. We expect the stock’s current up move to continue up to Rs 820 in the short-term, with minor pause around Rs 790. Short-term investors can buy the stock at current price with stop-loss at Rs 693.

More Stories on : Stocks | Recommendation | Two/Three Wheelers | Hero Honda Motors Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Surge in global prices may hit PEC wheat tender

Copyright © 2007, 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