The stock is trading at 173.10 on 5-1-2011 after the correction of almost 61%. The stock is showing potential to go up. The stock has taken the support at 200 day simple moving average. The short term resistances are posed by the 50 day and 100 day moving averages at the levels of 193.39 and 208.87.
The MACD has crossed above the signal line and RSI is rising above 50 level at 52.77. The +DI has crossed above the -DI. The ADX is rising and at 29.95. All this indicate that the stock has gained potential to rise.
The market cap of the stock is 401.71 Cr.The PE Ratio of the stock is 5.23 and that of industry is 12.92 . The EPS(TTM) of the stock is 33.30. The quarterly financial results ending September 2010 are satisfactory.
Recommendation:
Buy this stock for a target of 193 and with stop loss of 167 for short term.
Buy this stock for a target of 273 and with stop loss of 157 for medium term.
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