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Sunday, February 5, 2012
JP ASSOCIATES; STOCK CALL
CMP 76 BSE 17604
On the upside, resistances at 81 (a major one) and then at 87 approx followed by 94 and then 103.
Looking lower, first support at 72 followed by a major one at around 66 levels. If 66 breaks on a closing basis, then it could go down to 59 levels.
Trend and tenor supremely positive, ever since it broke out above 72-73 levels decisively.
Medium term target of around 103.
Long term money can also look to enter at CMP and all dips for a 12 month target of 158 or thereabouts, provided the macros assist and the Rate Cycle unfolds as expected.
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