According to GEPL Capital’s recent research report dated September 18, 2012, traders can buy REC at the range of Rs 220-210 with a stoploss of 185 Rs for a possible target of Rs 250-270 and UB Holdings at Rs 104-98 with a stoploss of Rs 87 for a target of Rs 132.
REC: A strong rally of 18% was witnessed in REC in last 3 trading sessions from the low of 188 to the high of 222. For past 1 year, the stock is trading in the range of 140 & 250 and has formed Triangular Terminating Pattern on daily as well as weekly chart. After the strong uptrend of last 3 trading sessions, REC was successful in giving upward breakout of a terminating pattern and now expected to move higher. The stock can be bought in the range of 220 – 210 with the stop loss of 185 and the targets 250-270. UB Holdings: After forming high at 343 in December 2010, the stock UB Holdings tumbled down and tested the bottom of 53.50 in June 2012. A double bottom structure is visible below 60 level on weekly chart. After forming bottom at 53.50, the stock rebounded to 100 levels within just 3 months. Strong volume accumulation has been observed on daily chart and the stock breached its 200 DMA of 88 decisively suggesting ‘Buy’ on the charts. The stock can be bought in the zone of 104- 98 with the stop loss of 87 and target of 132. Non-Institutions holding more than 90% in Indian cos 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 on the attachmentDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
