Business Daily from THE HINDU group of publications
Sunday, Jan 28, 2007
ePaper
Business Daily from THE HINDU group of publications Sunday, Jan 28, 2007 ePaper |
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Investment World
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Technical Analysis Markets - Stock Markets
We recommend a buy in Crane Software at current levels. Though, the weekly and daily charts are choppy and volatile, the monthly chart is interesting. The stock hit a high of Rs 135 in November 2005 and has been moving sideways since then. This consolidation phase has halted at a low of Rs 85, which is exactly 38.2 per cent retracement from its all-time high. We expect the long term up trend to launch in to its third leg upward that has the minimum target of Rs 220. However, it is uncertain when the consolidation move will end. This stock is more apt for long-term investors, who can accumulate the stock in the band between Rs 85 and Rs 100 with a stop at Rs 80. Follow-up Aventis Pharma (Rs 1,435): Aventis Pharma closed with a minor gain of 1.5 per cent last week. The long-term and short-term outlook remains the same as that outlined last week. Short-term investors should initiate position only on a rally beyond Rs 1,500. Long-term investors can accumulate the stock in the band between Rs 1,300 and Rs 1,500 with a stop at Rs 1,250.
Lokeshwarri S. K.
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