ENIL

Investors with a medium-term perspective can buy Entertainment Network India.

The stock has been on an intermediate term up-trend from the November 2008 low of Rs 93.

However, following a short-term correction in June and July, the stock has recently resumed its uptrend.

The stock rallied 16 per cent over the past two trading sessions with heavy volumes and is trading above 21- and 50-DMA. The daily momentum indicators are bullish.

We believe that the stock has potential to move up to Rs 295, with a likely pause around Rs 270. Investors can buy while maintaining Rs 170 as stop-loss.

Short-term traders enter with a target of Rs 229 and stiff-stop at Rs 198.

via BL