am holding shares of Rain Commodities at Rs 200. What is the outlook for this company? Please advise whether I should continue to hold it. Suhas Pai
Rain Commodities (Rs 138.5): After recording a 52-week high of Rs 255 in January 2010, the stock reversed direction and has been on a medium-term downtrend. While declining, the stock decisively broke through key long-term supports at Rs 200 and Rs 180. It is currently testing yet another important support level of Rs 135. Strong decline below this support will probably pull the stock lower to Rs 110 in the medium-term. A tumble below Rs 110 would eventually drag the stock to Rs 90 or Rs 70 in the long-term. On the other hand, a reversal from the current support level would be short-lived and the stock is not likely to rally beyond Rs 160. We suggest an exit from the stock in rallies. Resistance above Rs 160 are at Rs 170 and Rs 180 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.
