The Hindu Business Line : Srei Infra Finance (Rs 109.1): Buy

Short-term traders as well as investors with a medium-term perspective can consider buying Srei Infrastructure Finance at current levels. Despite the harrowing decline from the January peak at Rs 292, the long-term view for the stock stays positive. A fledgling rally is currently underway from the June trough at Rs 79.5. The presence of the long-term trend line at this juncture, coupled with the buy signals in the weekly momentum indicators imply that a sustainable trough could be in place at the June trough.

The decline in the second half of August has retraced 50 per cent of the prior up-move. A reversal is possible from here. Short-term traders can buy the stock with a stop loss at Rs 101. A short-term rally towards Rs 130 is likely in the near term. Investors can buy the stock with a deeper stop at Rs 95. Medium-term target for the stock is Rs 160.

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