http://www.thehindubusinessline.com/2010/06/23/stories/2010062351951100.htm
*JBF Industries (Rs 143.1): Buy * ** ** ** ** ** ** ** ** ** Investors with short-term trading perspective can consider investing in the stock of JBF Industries. It is apparent from the charts of the stock that since December 2008 low of Rs 26 it has been on a long-term uptrend, forming higher perks and higher bottoms. However, following a short-term corrective decline from the stock's 52-week high of Rs 168 recorded on April 22, the stock found support at it's key medium-term support level of Rs 125 in late May this year. Taking support the stock bounced up subsequently and it appears to have resumed its long-term uptrend. On Tuesday, the stock managed to close above its 50-day moving average by gaining almost 2 per cent with above average volume. The daily relative strength index (RSI) is on the brink of entering in to the bullish zone from the neutral region whereas the weekly RSI has re-entered in to this zone. Daily moving average convergence-divergence indicator is entering into the positive territory, reinforcing the bullish momentum. Moreover, the medium-term up trendline is intact. We are bullish on the stock from a short-term horizon. We expect it to move up further until it hits our price targets of Rs 148 or Rs 155 in the upcoming trading sessions. Short-term traders can buy the stock with stop-loss at Rs 137. Yoganand D. -- 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.
