The Stock has been beaten down badly from the High of Rs.75 in Sept. 2010 and the lows it registered very recently 8.30 paise odd, but the stock has recently seen very good volumes and the stock has been seen accumulating at these levels, the stock will have a target of Rs. 21 after it broken out of resistance with good volumes on the Weekly chart and was able to sustain these levels.
The Stock should be traded with a Stop loss of Rs.13.9 on Daily closing basis and 15.5 on weekly closing basis.
The Risk reward Ratio is quiet favorable at the Current Market price of Rs.16.15 .
Till then Happy investing and follow your stop losses strictly.
