The stock has move above the 200 week EMA. It has consolidated around 200 Week EMA and then started to move up so a good technical buy. in the mean time the stock has also moved or broken above the sloping trend line(blue Line) drawn from the top of April 2006. which is nearly 8 years( fibonacci) which is indicating that the trend might have reversed and we might see the stock move substantially from the current levels.We may not be surprised even if it make a new high which is around Rs.500. Generally such a long term trend line breakup signals trend reversals and the stocks goes on to move above previous high. so a good buy with stop loss of Rs.130/-.
M.MahidaRSri
Trend is Friend.
Enjoying Life
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