Business Daily from THE HINDU group of publications
Sunday, Dec 31, 2006
ePaper
Business Daily from THE HINDU group of publications Sunday, Dec 31, 2006 ePaper |
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Investment World
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Technical Analysis Markets - Stock Markets
We recommend a buy on the stock with a stop below the recent low at Rs 365. The correction that began from the top of Rs 630 in April could have terminated at the recent low of Rs 371. As long-term support for this stock exists in the zone between Rs 350 and Rs 370, the downside is limited. A modest target for the next one-year would be Rs 530 and then Rs 630. The short-term outlook, too, is positive. Short-term investors can buy the stock with a stop at Rs 420. Short-term targets are Rs 474 and then Rs 507. Ashok Leyland The scrip made a strong move upwards last week. It went past our second short-term target of Rs 46 to hit an intra-week high of Rs 46.35. Our medium-term target of Rs 50 and then Rs 58 stays for this stock. Long- term investors can use dips to buy into this stock with a stop at Rs 37.
Lokeshwarri S. K.
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