IPCA LAB-Buy--Tracking Technicals : Anand Rathi

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SCRIP NAME : IPCA LAB                                            SECTOR  : PHARMACEUTICALS                                                             Date : 10^th May, 2012.

CURRENT TREND : BULLISH                 Time Horizon : 3 Months         Buy in the Range of  Rs.350-360              Stop loss Rs.332( Closing Basis)

TARGETS :       1st Target: Rs.402

2nd Target: Rs.430

SUPPORTING TECHNICAL COMMENTS

IPCALAB- Rs.358 has broken out from multiple top of Rs.350 and has made all time high of Rs.375 and has seen a throw-back. Now stock can soon consolidate and move higher and target of Rs.402 & 425 is possible in the stock in next 2-3months. Stock trades above all major averages, with 20DMA Rs.352, 100DMA Rs.319 and 200DMA Rs.299. On weekly charts the stock has shown  a V-Shape recovery which is normally very positive.

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