PVR (Rs 163.3): BUY

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Old 06-Jul-2012
PVR (Rs 163.3): BUY

July 5, 2012:
We recommend a buy in the stock of PVR from a short-term horizon. It is evident from the charts of the stock that it has been on a long-term uptrend since its March 2011 trough formed around Rs 94. Both medium- and short-term trends are up for the stock. Last week, the stock took support at its twin base around Rs 147 (a key base level and medium-term uptrendline) and resumed its up move.

On Thursday, the stock surged six per cent conclusively breaching its near-term resistance at Rs 158. Moreover, the stock is hovering well above its 21- and 50-day moving averages. We notice that there is an increase in volumes over the past three trading sessions. The daily as well as weekly relative strength indices are featuring in the bullish zone. The daily moving average convergence divergence indicator has signalled a buy and is inching higher in line with the stock price implying upward momentum.

The daily and weekly price rate of change indicators are hovering in the positive terrain indicating buying interest. We are bullish on the stock from a short-term perspective. We anticipate its up move to prolong and reach our price target of Rs 168.5 or Rs 173.5 in the forthcoming trading sessions. Traders with short-term perspective can consider buying the stock with stop at Rs 158.

Old 06-Jul-2012
Lally Apra
Re: PVR (Rs 163.3): BUY

^^^ mainu laga ticket de rate badhan di news de riha hai....... :

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