RPL (SELL, CMP Rs167, Target Rs153)
The stock has rallied smartly from a low of Rs139 in February 2008 to a high of Rs206 in April 2008. This uptrend was
supported by short term trendline. On Tuesday, the stock fell below the strong support trendline. This indicates the start of
a correction in the stock. The daily RSI is also showing downward movement. Even, the daily MACD is showing a negative
divergence. Moreover, the stock is trading well below its short-term moving averages. Keeping in mind the above
mentioned technical analysis, we recommend investors to book profit in the stock. Traders can sell the stock at current
levels or up to rallies of Rs170-172 for an initial target of Rs153. It is advisable to maintain a stop loss of Rs176 on the
short positions.
2 comments:
thanks a lot sir, your advice about equity market gave a right attitude to do business.
or kal bazar kaise rahna chaihiye. jaldi update kare.
KAL KI REPORT SUBAH JALDI DE DENA.
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