NDTV (Rs 107): In our review of NDTV in November 2008, we had expected the slide to halt around the June 2004 trough at Rs 74. We had also indicated that the stock would face resistance at Rs 145 if it rallies higher. NDTV reversed after recording a peak at Rs 140 in January and once again declined to the support band between Rs 70 and Rs 80.
Our medium-term view has not altered and we expect the stock to continue trading in the band between Rs 70 and Rs 140 over the ensuing months.
Investors with a medium-term perspective can sell it close to the upper boundary of this trading range. Targets above Rs 140 are Rs 184 and Rs 220. Short-term resistance for the stock would be at Rs 114. This level needs to be crossed to take the stock towards the previous peak at Rs 140.
Source : Businessline 19-04-09
Our Recommendation : Our Research Team Views :
Day High Low Rs.116-105 Monthly High Low Rs.80-126 6M H/L Rs. 126-70
This share has risen sharply more than 80% in the last 6 months. The following are the ideal ranges for buying and selling :
Buying Range : Rs.85-90 Selling Range : Rs. 115-125
Wait for the price to the buying range on correction in the stock markets.
Holding period : 12 months Returns expected : 100% plus
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