I have purchased the shares of Everest Kanto Cylinder at Rs 140 and Subex at Rs 73. What is the outlook for the above shares? J. Sadeesh kumar, R. Sandhya Lakshmi, S. Indra Sankaran
Everest Kanto Cylinder (Rs 131.8): The stock has been on a long-term downtrend from its all-time high of Rs 385, recorded in January 2008. Investors with long-term perspective can consider holding the stock as long as it trades above Rs 95. A strong decline below Rs 95 would drag the stock lower to Rs 75 or to Rs 60 in the long-term. Fresh purchase can be initiated only on a decisive weekly close above Rs 165, with long-term target of Rs 200 to Rs 210 band. The intermediate-term trend is also down for the stock since June 2009 peak of Rs 238. However, the stock is making an effort to take support in the range between Rs 110 and Rs 120 from late February 2010. Medium-term investors can hold the stock with stop-loss at Rs 110 and can take profits at Rs 165. Conversely, drop below Rs 110 can pull the stock lower to its next support level of Rs 95. http://www.thehindubusinessline.com/iw/2010/05/30/stories/2010053050150800.htm -- 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.
