BSE 17562 CMP 2499
As a follow up to the excellent Q3 Results put out by this Company, here is a brief Technical look at the Charts to determine the Best Entry Price for long term investors.
Looking at the 2 year Price Charts one sees that the unconventional 250 SMA seems to form a great support line for this Scrip. Interestingly, it has never been violated on a Closing basis in the entire 2 year Period; only having been breached once intraday on 29/9/2011 when the Stock fell intraday to 2210 but immediately rebounded and closed at 2264 (SMA 250 on 29/9/2011 was 2250). Currently the SMA 250 stands at 2273 levels.
So simplistically put, without too much gobbledegook, I would peg the Best Buy zone for this Scrip in the range 2142-2273. Wait for the post -result euphoria to fade away and then accumulate in the said 2273 down to 2142 price range for steady, min-risk , long term returns.
SEE THE DETAILED Q3 FY2011 RESULTS RIGHT HERE
Looking at the 2 year Price Charts one sees that the unconventional 250 SMA seems to form a great support line for this Scrip. Interestingly, it has never been violated on a Closing basis in the entire 2 year Period; only having been breached once intraday on 29/9/2011 when the Stock fell intraday to 2210 but immediately rebounded and closed at 2264 (SMA 250 on 29/9/2011 was 2250). Currently the SMA 250 stands at 2273 levels.
So simplistically put, without too much gobbledegook, I would peg the Best Buy zone for this Scrip in the range 2142-2273. Wait for the post -result euphoria to fade away and then accumulate in the said 2273 down to 2142 price range for steady, min-risk , long term returns.
SEE THE DETAILED Q3 FY2011 RESULTS RIGHT HERE
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