Bharat Bijlee; Rs.633/- it seems technically the stock is giving a good indication for domination of bulls. The above chart is a weekly chart. The stock has been consolidating between 100 week EMA and 200 week EMA for last four months and today it has move above the 200 week EMA. It has moved above 200 week EMA after very long time after June 2008. Went up above 200 week EMA stayed above it then came below it and has been consolidating between range. It has taken support at the 100 week EMA and has moved above 200 week EMA today if it stays above it we can expect it to make a new 52 week high and has all the chances of moving up from current levels. Financials are not so encouraging for last two years but historically during the infra boom of 2004-07 the stock has give stupendous returns and during the down trend it has fallen from 4000 to 250 levels so we are now below the 80% levels so the chances of moving up are more that the down trend. Stop loss below the 100 week EMA at 540/-

May all be Happy and Peacefull

M.Mahiidar

Enjoying Life

Trend is Friend.