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Visit http://indiaer.blogspot.com/ for complete details �� ��
Please advise on the outlook for Bosch and Honeywell Automation India. Can I buy and hold them for long-term?
N.S. Ganesan
Bosch (Rs 9,005.9): Bosch continues to be a trail-blazer in 2012 as well. The stock is up 35 per cent so far this year.
The stock is in a strong structural uptrend since the March 2009 low. This uptrend will be threatened only if the stock goes on to close below Rs 6,425. Subsequent supports for the stock would be Rs 6,062 and Rs 5,314.
Medium-term supports for the stock are at Rs 8,164 and Rs 7,501. Investors with short- to medium-term horizon can accumulate the stock on declines as long as it trades above Rs 7,500.
Immediate target for the stock is Rs 10,162. Long-term target for the stock is at Rs 11,032.
Honeywell Automation (Rs 2,477.3): Honeywell Automation is in a long-term down move since the July 2010 peak of Rs 3,010. But this decline has halted at the key long-term support at Rs 1,663 and the stock is once again reversing from its long-term resistance band between Rs 3,000 and Rs 3,300. Investors with short-term perspective can divest their holdings when the stock nears this resistance band.
Medium-term support for the stock is at Rs 2,280 and this can serve as support for medium-term investors. Long-term support for investors is, however, at Rs 1,620. Investors need to start worrying only on a strong close below this level. Long-term target on close above Rs 3,350 is Rs 4,097.
