markettrend766
11-11-2008, 07:11 AM
Investors can buy Hindustan Construction Company at current levels with a short-term perspective. The stock bottomed at Rs 30.1 on October 27 after a protracted down trend. It had rebounded from this support in January 2005 too. Weekly candlestick chart patterns imply that a medium-term trough could have been formed at the recent trough at Rs 30.
Ten-day rate of change oscillator has moved firmly into the positive zone and the moving average convergence divergence oscillator too is signalling a buy. The implication is that the current up trend can sustain to take the stock higher. Our short-term target for the stock is Rs 68. Investors with a short-term horizon can purchase the stock with a stop at Rs 55.
Ten-day rate of change oscillator has moved firmly into the positive zone and the moving average convergence divergence oscillator too is signalling a buy. The implication is that the current up trend can sustain to take the stock higher. Our short-term target for the stock is Rs 68. Investors with a short-term horizon can purchase the stock with a stop at Rs 55.