Larsen and Tourbo
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Wednesday, September 08, 2010
Negative start likely on weak global cues
Headlines for the day:
Marginal hike in fuel prices
Maruti to invest Rs1,925 crore in third plant at Manesar
Tata Steel seeks UMPP-like boost for steel
Andhra Sugars
We recommend a buy in the stock of The Andhra Sugars from a short-term perceptive. It is seen from the charts of the stock that since its March 2009 low of Rs 52, it has been trending upwards. However, following a medium-term correction from Rs 160 to Rs 105, resumed the uptrend in early November 2009. Since then, the stock has been on an intermediate-term uptrend, shaping higher peaks and higher troughs. Moreover, short-term trend is also up for the stock from Rs 123. On September 2, the stock jumped 4 per cent with good volume, breaching its 21-day moving average.
Tuesday, September 07, 2010
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