The Hindu Business Line : KEC International (Rs 426.5): Buy

Short-term investors can buy KEC International at current levels. The stock is just commencing a smart up-move after a protracted sideways move from the July trough at Rs 340. The sequence of higher troughs in the ensuing period reflects the underlying strength in the stock. KEC International has also closed firmly above the 50-day moving average line as well as the long-term down-trend line. Both these crossovers reflect a reversal in the bearish outlook currently prevailing in the stock.

The fact that the 10-day rate of change and the daily moving average convergence divergence oscillators have moved above the zero line indicate that the stock could be beginning the next phase of the uptrend that commenced in July. Investors can buy KEC International with a stop at Rs 395. We expect the stock to achieve the target of Rs 490 in the near-term.

Lokeshwarri S.K.

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