| Finolex Industries (Rs 89): Buy
 Investors with short-term trading perspective can consider buying the stock of Finolex Industries. It is evident from the charts of the stock that it is in uptrend in all time frames — long-, medium- and short-term. After taking support around Rs 65 in late May, the stock resumed its long-term uptrend and began to accelerate. Thereafter in late June, the stock breached its immediate resistance level of Rs 83 conclusively. On July 12, the stock jumped four per cent, reinforcing its ongoing bullish momentum. We note that the stock's current rally has been backed by good volume. The stock is trading well above its 21- and 50-day moving averages. Both daily and weekly relative strength indices are featuring in the bullish zone. Further, daily and weekly moving average convergence divergence indicators are firmly placed in the positive territory. Our short-term forecast on the stock is positive. We anticipate the stock's rally to continue until it hits our price target of Rs 93 or Rs 95 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 86. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints. Nothing in this article is, or should be construed as, investment advice. |
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http://in.groups.yahoo.com/group/investwise/
INVESTMENTS IN INDIA
We are low-risk, long-term investors.
Stocks, mutual funds and the entire investment gamut. Only financing/investment avenues in India will be discussed.
For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in
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NEW! ==== Check our LINKS and FILES sections for a world of information. REGULARLY UPDATED.
NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas.
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