: BUY "Pin It")
We recommend a buy in Geometric’s stock from a short-term perspective. The stock is in an uptrend since the November low of Rs 36.5. It took support from the medium-term uptrend line on May 2011 and is moving higher once again.
This also occurs close to 50 per cent retracement of the up-move from the 2011 low. Oscillators in the daily chart have given a buy signal though some of the faster oscillators are indicating that the stock is overbought.
The stock spiked sharply higher on Monday, gaining Rs 7 or 10 per cent. What is more interesting is that the stock has managed the highest close since January 2011. Short-term investors can buy the stock with stop at Rs 77. The stock can move higher to Rs 82 or Rs 86 in the coming trading sessions.
Keywords: Geometric, stock recommendation
Comments:
the research of KPIT on short term basis is good; bullish on the stock
from a short-term perspective. anticipation the stock's rally to
continue and hit the price target of Rs 125 in the upcoming
sessions. Traders with short-term horizon can consider buying the
stock while maintaining stop-loss at Rs 117.5 levels.
Further,Muttot, tumbled 5.6 per cent with good volume forming a
bearish engulfing candlestick pattern on Tuesday. It is a downward
reversal pattern which has short-term implication. Both daily and
weekly RSI are declining in the neutral region towards the bearish
zone. The daily moving average convergence divergence indicator has
signalled asell. The daily price rate of change indicators are
hovering in the negative terrain implying selling interest. outlook
on the stock is bearish. expect its downtrend to prolong and touch
our price target of Rs 127.5 or Rs 123.5 in the forthcoming trading
sessions. Traders with short-term perspective can consider sell it
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