Accumulate : BhartiArtl CMP : 751 Target(One Year)1200

[K.Karthik Raja]

Accumulate : BhartiArtl CMP : 751 Target(One Year)1200

BHARRIARTL is consolidated in a range of 800-900
levels in last few trading sessions.But today it have corrected to
751. The 14-day RSI is indicating the stock to be in the 'oversold'
territory thereby negating any significant sell-off in near term.ADX
is @ 15 saying the stock still has pain. The 21-day EMA is placed at
around 885 levels where the stock is facing strong resistance.
A sustained close above 885 levels will help the stock to test its 50-
day EMA level placed at around 848 levels. The 8-day EMA level is
placed at around 850 levels. Immediate support is placed at around
730 levels. A slide below that level will force the stock to test
lower levels of 670.
Investors are advised to accumulate the stock in the range of
690-740 levels for an immediate short-term target of 850.One year
resistance is around 1050/1200 levels volume is increased as well,when
compared to normal level shows down side expectation.

All long positions in the stocks should be protected with a stop
loss placed below 670 levels on a closing basis.Bhartiartl is still
trading weak and some more pain left with. Investor should accumulate
bhartiartl for long term only.

K.Karthik Raja
www.kences1.blogspot.com