Technical Analysis Based Buy Calls
ABAN OFFSHORE LIMTIED
The stock closed at Rs.4117.15 on 23rd May 2008. It made a 52-week low at Rs.2405.00 on 17th May 2007 and 52-week high of Rs.5416.00 on 07th January 2008. The 200 days Exponential Moving Average (EMA) of the stock is currently at Rs.3598. On the daily charts, the stock is in buy on MACD and its 14-days RSI is currently at 71. (Above 50, we consider a stock to be in strong hands). It has strong support at Rs.3750. One can buy the stock near 3900 levels with closing below stop loss of 3650 for the target of Rs. 4550.
LUPIN LIMITED
The stock closed at Rs.683.80 on 23rd May 2008. It made a 2-week low at Rs.425.00 on 22nd January 2008 and 52-week high of Rs.800.00 on 09th July 2007. The 200 days exponential Moving Average (EMA) of the stock is currently at Rs.568. On the daily charts, the stock is in buy on MACD and its 14-days RSI is currently at 79. (Above 50, we consider a stock to be in strong hands). It has strong support at Rs.650. One can buy the stock near support price with closing below stop loss of Rs.570 for the target of Rs 850.
PRAJ INDUSTRIES LIMITED
The stock closed at Rs. 205.50 on 23rd May 2008. It made a 52-week low at Rs.100.10 on 24rd March 2008 and 52-week high of Rs.272.95 on 14th December 2007. The 200 days Exponential Moving Average (EMA) of the stock is currently at Rs.184. On the daily charts, the stock is in buy on MACD and its 14-days RSI is currently at 61. (Above 50, we consider a stock to be in strong hands). It has strong support at Rs.190. One can buy the stock near support price with closing below stop loss of Rs.175 for the target of Rs 235.
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Hello sir
The stocks covered today are being watched by me for quite some time and Praj Industries is among my favourite investment picks. Thanks for the technical aspects of the stocks i am interested in. Keep the good work going.
Best wishes
thyagarajan