Sunday, July 29, 2012
Vijay Shanthi Builders Ltd: Buy on dips
The scrip of Vijay Shanthi Builders Ltd have formed a beautiful pattern on the daily candle stick chart. The stock will try to clear Rs.20.93 in the next few trading sessions, where 200 DSMA is placed. The scrip is already above its 30 DSMA/DEMA and 10 DSMA/DEMA. The price band of Rs.21-23 is very important, where some of the prime SMAs are placed. It will anyhow clear the 100 DEMA and 150 DEMA in the next few trading sessions. Also, since the company is expected to come up with good results for Q1FY13, most of the marketmen are expecting it clear Rs.21-23 range easily and touch Rs.32-37-41, in the next few weeks. If the RBI goes in for a rate cut on Tuesday (at least 25 bps), which is most likely, then we can expect some Upper Freezes in the counter. Buy in bulk and keep holding.