Today's Pick

Aptech (Rs 136.7) - Buy

D. Yoganand | Updated on September 15, 2011 Published on September 15, 2011

16aptech.eps



 We recommend a buy in the stock of Aptech from a short-term perspective. It is apparent from the charts of the stock that after taking support from a significant base level at around Rs 86 in late June this year, Aptech started to move higher. Since then, the stock has been on a medium-term uptrend.

However, following a minor correction, the stock found support in the band between Rs 117 and Rs 120 in early August. This support band subsequently cushioned the stock from declining further. Resuming the medium-term uptrend, the stock jumped four per cent on Thursday. There is an increase in volumes over the past three trading sessions. The stock is hovering well above its 50- and 200-day moving averages. Both daily and weekly relative strength indices have entered in to the bullish zone from the neutral region. Daily as well as weekly moving average convergence divergence indicators are featuring in the positive territory implying upward momentum.

Our short-term outlook on the stock is bullish. We expect its up-move to continue and touch our price target of Rs 141 or Rs 145 in the forthcoming trading sessions. Traders with short-term perspective can consider buying the stock with stop-loss at Rs 133.

Published on September 15, 2011
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