31 August 2012

MTT BUY CALL ON BASF INDIA:: Anand Rathi


TRACKING TECHNICALS - MTT BUY CALL ON BASF INDIA

SCRIP NAME : BASF INDIA                   SECTOR :     CHEMICALS              Date : 31st AUGUST , 2012



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CURRENT TREND :
 BULLISH               Time Horizon :  0-6 Months      

Buy in the Range of  Rs.610-Rs.640          Stop loss :Rs.550  (ON CLOSING BASIS )

TARGET: Rs.775

BASF INDIA Rs. 634 : The stock after making a high of Rs.725 in November 2012 has consolidated for 21 months and is looking very good to move above Rs.725 and target Rs.775 levels within 6 months. The stock is also trading above its 200 WMA atRs.456 , 200DMA at 546,  100DMA at Rs.591 & 50 DMA at 597. Therefore we recommend a buy in the stock in the mentioned range for a target of Rs.775. We also advise our valuable clients to buy the stock on every dip.



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