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You are here : IndiaNotes >> Research & Analysis >> Companies >> Ansal Properties & Infrastructure Ltd. >> Research

Weekly momentum stock pick: Buy Ansal Properties

HDFC Sec | 08 Dec, 2014  | Follow Author | Add to my Favourites 
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Current Observation:


- The small cap Realty stocks have witnessed smart upmove recently and the Ansal Properties & Infra Ltd (ANSAL API) is one of the stocks that moved up smartly today.


- The attached weekly timeframe chart of the stock price is indicating a bottom reversal pattern around the multiple supports of around Rs.29.00 and 30.30 levels (up sloping trend line-brown and 100week EMA-pink curvy line).


- Post sharp upmove of later part of Oct, the stock price declined without showing any conviction and this week formed a variation type of bullish pattern of hammer around Rs.29.00 levels.


- After the formation of lower tops and bottoms the stock price is now forming a slight higher bottom around Rs.29 as per weekly chart, signaling the exhaustion of decline and the signal of the beginning of fresh upmove.


- With positive technical setup, one may look to buy ANSAL API for near to medium term trading perspective.

 

Stock Recommendation


CMP: 31.5

Action: Buy between CMP and 31

Stoploss: 29.50

Target: 35

Time Horizon: 1-2 weeks


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.