TRACKING TECHNICALS - MTT BUY CALL ON BASF INDIA
SCRIP NAME : BASF INDIA SECTOR : CHEMICALS Date : 31st AUGUST , 2012
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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