http://www.thehindubusinessline.com/iw/2010/05/30/stories/2010053050150800.htm
I purchased McNally Bharat Engineering Company at Rs 360. Please advise short- and long-term outlook of the stock. N. Selvarajan McNally Bharat Engineering Company (Rs 297.60): Since March 2009, the stock has been on a steady long-term uptrend. However, marking an all-time high of Rs 385, the stock started to decline and has been on a short-term downtrend since then. The stock fell 11 per cent last week, penetrating its long-term uptrend line conclusively signalling cautiousness. At this juncture, investors can take partial profits off the table as the downtrend is likely to prolong further. A decline below Rs 270 can pull the stock lower to Rs 240 or Rs 210 in due course. As long as the stock trades below Rs 330 the short-tern trend remains down. An emphatic move above Rs 330 would mitigate the negative short-term view and can take the stock higher to Rs 380. Long-term investors can stay invested with deeper stop-loss at Rs 190 -- 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.
