Graphite India: Rs.111

Graphite India Ltd has made an all time high and that too on huge volumes. This is an indication that the buying is comming into the stock at higher levels. As it an all time high after long consolidation of nearly five years and breakout has happened on volumes, we can surely say that its a technical buy with stop loss at 200 week EMA which happens to be at Rs.80. fundamentally also the company has been performing well maintaining an EPS of around Rs.10 for each of the last five years. So considering the improvement in infrastructure in coming year as every body is indicating that the infrastructure sectors is going come out of hibernation. we can expect the company to perform well in coming years and just buying at break out level gives us an edge as we can ride the entire rise.

M.Mahiidar

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