Buy Anant Raj between Rs 50.15 & Rs 45 :: HDFC Sec, report

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Observation  The Anant Raj Ltd as per larger timeframe chart of monthly is indicating that the stock price is in the process of making a significant bottom reversal pattern, after a decline of the last 5-6 months.  We observe that the stock price is moving with in a converging triangle type pattern (two brown converging trend lines). Currently the stock price is showing bottom reversal pattern around the lower end of triangle of around Rs.43-Rs.44 levels.  The last couple of months candlestick pattern is showing another positive indication of ‘spring’. The stock prices were showing false downside break of the lower up sloping triangle line around Rs.45 levels. This is positive for the stock trend and it signals the possibility of stock price testing the upper triangle around Rs.75-76 levels in the next few months.  Monthly 14 period RSI is making attempt to turn up from near the key lower levels of 40. From here the monthly RSI could move up towards the upper 60 levels in medium term.  Positive technical set up is suggesting a buying opportunity for the next few months

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3011088