Mercator Lines (Rs 46.1): In our review of this stock in November 2009, we had mentioned that Mercator Lines was moving in a range between Rs 40 and Rs 75 and that as long as the stock held above the lower boundary of this range, there was a possibility of a break-out to Rs 84 or Rs 105 over the medium-term. This view remains unaltered.
The lower boundary has not yet been breached though the stock tested this level briefly in June to record the low of Rs 42. A nascent uptrend is currently in motion that utterly lacks conviction. Investors therefore need to be on their guard as long as it trades below Rs 50. Move above this level can take it higher to Rs 55 or Rs 62. Medium-term view will turn positive only on a close above Rs 75. We reiterate the view that close below Rs 40 would denote an impending decline towards Rs 21. http://www.thehindubusinessline.com/iw/2010/07/04/stories/2010070450290600.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.
