indiabull
03-01-2008, 05:58 PM
Anand Rathi Securities has a medium term technical ‘buy’ call on Gateway Distriparks Ltd for a target of Rs 232. The current market price is Rs 168.70.
“The stock not only breached its long term trendline resistance and sustained above it forming a higher bottom, it also breached its medium term resistance at Rs 162,” the brokerage says giving its rationale.
The moving averages are in a bullish formation and the RSI oscillator is forming higher bottoms. Investors must buy this stock aggressively at current levels for a target of Rs 232 with stop-loss at Rs 145.
“The stock not only breached its long term trendline resistance and sustained above it forming a higher bottom, it also breached its medium term resistance at Rs 162,” the brokerage says giving its rationale.
The moving averages are in a bullish formation and the RSI oscillator is forming higher bottoms. Investors must buy this stock aggressively at current levels for a target of Rs 232 with stop-loss at Rs 145.