http://www.thehindubusinessline.com/2010/06/17/stories/2010061753021100.htm
*Kalindi Rail Nirman (Rs 132.4): Buy * ** ** ** ** ** ** ** ** We recommend a buy in the stock of Kalindi Rail Nirman from a short-term trading perspective. It is apparent from the charts of the stock that in December 2009, it encountered a key long-term resistance band between Rs 230 and Rs 240 and resumed its long-term downtrend that has been in place from January 2008 peak of Rs 600. Also since December 2009, the stock has been on a medium-term downtrend. However, the stock's medium-term downtrend got halted with support around Rs 115 in May this year. Triggered by the positive divergence displayed in the daily moving average convergence divergence indicators, the stock reversed direction from Rs 115. The short-term trend is up for the stock. On June 16, it penetrated the immediate resistance as well as 50-day moving average of around Rs 130 by gaining 5.5 per cent, with above-average volumes. The daily relative strength index has entered into the bullish zone from the neutral region and the weekly RSI has entered into the neutral region from the bearish zone. The daily MACD is on the brink of entering in the positive territory. We are bullish on the stock from a short-term perspective. We expect it to move up until it hits our price targets of Rs 139 or Rs 142 in the forthcoming sessions. Short-term traders can buy the stock with stop-loss at Rs 127. Yoganand D. BL Research Bureau -- 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.
