DS Kulkarni Developers

Investors with a short-term trading perspective can buy D S Kulkarni Developers. This stock has been in a corrective mode since October 2009. This correction is, however, halting above the key support at Rs 65. The stock has bounced from this level thrice since the last week of November. It can turn out to be third time lucky this time and we expect the stock to rally to Rs 74 or Rs 77 in the near term.

The 10-day rate of change oscillator has moved just above the zero line, indicating that the short-term uptrend can sustain. Other momentum indicators in the daily chart are moving sideways, implying a neutral stance. Traders can buy the stock with a stop at Rs 65.6. Our short-term target for this stock is Rs 77.

via BL