Tanla Solutions (Rs 46.4): This stock has been charting a strong up-trend since the March 9 trough at Rs 21. Mild signals of a long-term reversal are apparent in the move above the long-term down-trend line drawn from its all-time high of Rs 410 and the close above 50-day moving average.
Formation of a long-term trough can be confirmed if the current correction halts above Rs 35. Investors with a medium term perspective can therefore buy in declines with a stop at Rs 34.Short-term target for the stock is Rs 70. Downward reversal from this level will result in the stock moving in the range between Rs 35 and Rs 70 for a few more months. Rally above Rs 70 will take the stock towards the resistance band between Rs 100 and Rs 110 that is likely to cap any rally over the next 12 months.
— Lokeshwarri S.K.
Our Research Team Views :
Day High Low Rs.44-47 on 29th April 2009 Monthly High Low Rs.56-24 6M H/L Rs.91-23
Sectoral Trend - Neutral
This share has risen sharply more than 80% in the last 2 months. The following are the ideal ranges for buying and selling :
Buying Range : Rs.30-34
Selling Range : Rs. 55-60 short term
Wait for the price to the buying range on correction in the stock markets.
Holding period : 12-18 months Returns expected : 100% plus