CMP 46.6
- In the earlier Post on IVRCL dtd 16/5/2012 (SEE THIS) , when IVRCL was at 47 and in a downtrend, we had analysed, major Fibonacci supports at 46, 42.6 and then at 38.
- As we all know, in hindsight, that the Scrip sliced through 46 and 42 pretty easily but took support at 38. It touched a closing low of 38.1 on 1/6/2012.
- Thus 38, seems to have held out effectively.
- Now, on the upside, a key resistance was at 46 closing basis, which the Stock has taken out in the last trading session.
- Were 46 to hold, the next resistance level on the upside is at 51 followed by 55, 62 and then 69
- Short to medium term money can look to enter now with possible targets of 51-55 in the near term and 62 to 69 in the medium term
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dear sir
ReplyDeletewhat is your view on madhucon projects ??
i have bought it around 48 levels. shall I hold or sell. will i recover my cost??
thanks
Hi, Just hold on to MADHUCON, in my opinion you will get your entry price and more within the next 12 months
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