Wednesday, February 1, 2012

PATEL ENGINEERING LTD; STOCK CALL






   CMP 107.45          BSE 17300
  • On the upside, resistances at 113 followed by 120 and then at 133. In fact, today's closing above a key resistance at 107 levels seems to indicate a breakout on the upside assuming a favorable overall Market.
  • On the downside, supports at 104 followed by 93, breaking which, way down at 82. However, 104 is a strong support and should hold on a closing basis.
  • As I observed earlier, the Stock seems to have broken out on the upside today and we could see levels of 133 in the medium term easily.
In addition to traders, long term investors could also look to pick up the Stock at CMP 107 for a conservative one year target of 175 plus.
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2 comments:

  1. UnknownFebruary 2, 2012 at 5:48 PM

    Today it closed at 104.40......what do you suggest?

    ReplyDelete
    Replies
    1. SANJAY M.February 2, 2012 at 6:53 PM

      Yeah, true. My inclination is a HOLD and add on dips. 104 is a strong support and hopefully it will hold on a closing basis.

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