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

Stocks

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

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

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 Parsvnath Developers from a short-term perspective. It is evident from the charts of Parsvnath Developers that the stock was on medium-term downtrend from its 52-week-high of Rs 598 (touched in January 2008) to its 52-week-low of Rs 170 touched in March. The stock has also crossed over the 21-day moving average recently. We notice that there is an increase in volume over the past three trading sessions. The daily momentum indicator is likely to enter the bullish region and weekly momentum indicator has entered the neutral region from the bearish zone. We notice a positive divergence in the moving average convergence and divergence and it is constantly rising towards the positive territory. We expect the stock to move up to our price target of Rs 260 in the short-term. Investors can buy the stock, while keeping the stop-loss at Rs 214.

More Stories on : Real Estate & Construction | Recommendation

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

Stories in this Section
Opposition to commodity transaction tax unwarranted

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