Business Daily from THE HINDU group of publications
Sunday, Jan 21, 2007
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Business Daily from THE HINDU group of publications Sunday, Jan 21, 2007 ePaper |
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Investment World
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Technical Analysis Markets - Stock Markets Lokeshwarri S.K
We recommend a buy in Aventis Pharma at current levels. The stock is currently positioned at its long-term support line at Rs 1,400. A three-wave move is nearing completion from the peak formed in May 2006. The stock can consolidate in a band between Rs 1,300 and Rs 1,700 for a few months before it resumes its long-term up move that can take the price beyond its previous high of Rs 2,125. Intermittent resistance will be at Rs 1,820. Long-term investors can accumulate in the band between Rs 1,500 and Rs 1,300 with a stop at Rs 1,250. Short-term investors should enter this stock only if the price closes above Rs 1,500. Short-term targets are Rs 1,595 and then Rs 1,750. Follow up BHEL (Rs 2,269.30) The stock moved sideways last week, hitting an intra week high of Rs 2,323. The short term and the intermediate term view for this stock is unchanged after the moves made by this stock last week. Investors can continue to apply the targets and stops for both the short term and intermediate term that were given last week.
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