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We recommend a buy in Moser Baer India at current price. From the weekly chart of Moser Baer, we note that is has been on a long-term uptrend since July 2006 low of around Rs 110. However, the stock met with a resistance at Rs 336 in September 2007 and was on a medium-term downtrend. Recently, the stock’s medium-term downtrend got arrested at a significant support level of Rs 250 (which coincides with 50-week moving average line). On November 30, the stock breached t he medium-term down trendline and the 21-day moving average line by gaining 5 per cent. The daily momentum indicator recovered from the bearish zone. Immediate support for the stock is at Rs 250 and the next support is at Rs 230. The key resistance for the stock is at Rs 310 level. Short-term investors can buy the stock with stop at Rs 252. We expect the stock to rally up to Rs 310 in the short-term.

Yoganand D.

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