Buy Brigade between Rs 170 & Rs 180. :: HDFC Securities

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 On Weekly chart as well as daily chart, the stock is continuously making higher top higher bottom formation. The
stock also moving in channel line from last several weeks. On Friday the stock the opened with an upgap with higher
volumes suggesting this move could continue for more sessions.
 On weekly chart the stock has faced resistance at 38.2% (`. 177) extension of earlier move. If in coming sessions the
stock crosses and closed above this level then traders could accumulate this stock between `.170 to `.180 level
 On daily chart MADC has given a bullish breakout by crossing its average from down side with crossing above zero
line. ADX line also changed its direction suggesting current trend in the stock could remain in the stock for few more
weeks.
 Traders could accumulate the stock between `.170 to `.180 level for the upside targets of `.210 (50% extension of
the previous move & down gap which was made on 23rd May 2008) followed by `. 230 level (61.8% extension of the
previous move). Stop loss is placed at `.140 level which is a change of polarity level (Stop loss is on weekly closing
basis)

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010651