Buy Edelweiss between 52 to 54; Target Rs 65.0 - HDFC Sec,

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Observation:
Edelweiss has broken out today of its recent highs of 52.75 touched on 23rd Dec 2014. The stock was trading
within a range for the last eight trading sessions. Today’s breakout was accompanied with higher than average
volumes, indicating that there was significant accumulation.
Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and medium
term (50-day SMA) moving averages. The 200-day EMA has also been acting as a support for the stock in the last
one week, which is a positive signal.
Momentum indicators like the 14-day RSI too are in rising mode and not yet overbought. The 14-day RSI is also
above its 9-day EMA, which is a healthy signal for the stock.
The stock is now on the verge of breaking out of a downward sloping trend line that has held down the highs of
the last two months. Given the positive technical set up, we believe the stock has the potential to break out of this
downward sloping trendline.
Our upside target is close to the previous intermediate high of 66.5 that was tested in July 2014. Our entry levels
along with the stop loss and targets are given above.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010503