Scripscan:Rei Agro Ltd
cmp:50
Code:532106
Story:We recommend a buy in Rei Agro from a short-term perspective. It is apparent from the charts of the stock that from June high of Rs 103 it was on a medium-term downtrend till its late August low of Rs 45. Subsequently, the stock began to consolidate sideways. It breached the medium-term down trend-line in early September. The stock took support around Rs 45 for the second time last week. It has key medium-term support around Rs 45. On October 16, the stock crossed over its 21-day moving average by jumping almost 6 per cent with good volume. The daily relative strength index (RSI) is heading towards the bullish zone in the neutral region. Besides, the daily, moving average convergence and divergence (MACD) indicator has signalled a buy and is inching towards the positive territory. We are bullish on the stock from a short-term perspective. We expect the stock to move up further until it hits our price target of Rs 55 in the approaching trading sessions. Traders with a short-term perspective can buy the stock while maintaining a stop-loss at Rs 47.5.
source:Yoganand D.
Tuesday, October 20, 2009
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Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that I consider reliable. I,however,do not vouch for the accuracy or the completeness thereof.This material is for personal information and am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.The stock price projections shown are not necessarily indicative of future price performance.The information herein, together with all estimates and forecasts, can change without notice.
