Ipca Laboratories (Rs 328.35): Buy<http://latestequityresearchreports.blogspot.com/2009/03/ipca-laboratories-rs-32835-buy.html>
http://latestequityresearchreports.blogspot.com/2009/03/ipca-laboratories-rs-32835-buy.html We recommend a buy on Ipca Laboratories from a short-term trading perspective. It is apparent from the charts of Ipca Laboratories that it has been on a long-term down-trend since its lifetime high of Rs 794 recorded in July 2007. In October 2008, the stock’s down trend accelerated and it witnessed a sharp decline. It finally halted at the support at Rs 300 levels in late November. The stock took support around Rs 300 level for the second time recently. On March 6, the stock gained 6.6 per cent, forming a bullish engulfing candlestick pattern indicating short-term bullish reversal. We notice that the weekly relative strength index (RSI) is displaying a prolonged positive divergence. The daily RSI is rising in the neutral region and the moving average convergence and divergence indicator is signalling a buy. We are bullish on the stock from a short-term horizon. We expect it to rally further until it hits our price target of Rs 362 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 310. Source: HBL --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
