CMP 61.9 (1300 HRS) BSE 17569 (1300 HRS)
- The scrip has a strong support in the 55-57 range which has held out pretty well and has not been violated on a closing basis ever since 1/2/2012.
- On the upside, I would like to see it close above 62 levels consistently to be reasonably sure of the resumption of the uptrend.
- If it takes out 62 as mentioned above, we will see 66 quickly.
- One could play for a medium term target of about 82-83 provided the overall Market Macros also oblige.
- For long term investors the Stock is a buy in the 55-62 range with prudent buying in a phased manner.
EARLIER POST DTD 20/2/2012 SEE HERE
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