Technical Analysis – Coromandel International – 21st Feb 2010
Coromandel International (Rs 275.2) – Fertiliser stocks were a buzz last week as Government hiked urea prices and approved a plan to pay subsidies to these companies based on nutrient content. Coromandel International rallied 13 per cent to the peak of Rs 289 on Friday before giving up some gains. The stock has long-term support in the zone between Rs 200 and Rs 230 and this zone can support the stock in declines. Investors with medium-term perspective can therefore hold the stock as long as it holds above Rs 200. Short-term support and resistance is at Rs 250 and Rs 295 respectively.
*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment