Dec 04, 2012, 11.51 AM | Source: Moneycontrol.com
Way2Wealth has come out with its report on Gujarat FluoroChemicals. The research firm recommends initiating longs in this stock for targets of Rs 459-602 with a stop loss of Rs 302.
, Way2Wealth |
“Gujarat FluoroChemicals appears to have completed its wave E down of the triangle with a mild throw under. The rise since the bottom of 303 also appears to be a five wave structure which further confirms that the low of 303 is an intermediate bottom. The momentum indicator MACD has provided a buy crossover on the daily charts which is also supporting the bullish view. Now, if this is a triangle then the initial target is the previous intermediate swing high i.e. 602.”
“On the contrary, if this a leading diagonal pattern then there will be a short covering or bounce back till 50% to 61.8% retracement of the fall from 602 303 and that comes to 456 and 492 respectively. In both the case bulls have an upper hand in the short medium term, so we recommend initiating longs in this stock for the targets of 459-602 with a stop loss of 302.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Gujarat Fluorochemicals Ltd has informed BSE that
Sushil Finance is bullish on Pratibha Industries a
KRChoksey is bullish on Suzlon Energy and has reco
FinQuest Securities is bullish on Wockhardt and ha
Arihant capital markets is bullish on Power Financ
Arihant capital markets is bullish on Adhunik Meta
SPA Research is bullish on Infinite Computer Solut
HeidelbergCement India has reported a sales turnov