Himatsingha Siede (on reader request!)

One of the readers "N" requested analysis of the mid-cap scrip "Himatsingha Siede" and accordingly I have analysed the scrip



The stock which made a high of 135/- in Jan 08 , it has recently made a low of Rs 50/-. In fact, price is finding support at Rs 50/- levels, though the volumes have been less.

In the short term, one can look for a break out above Rs 58/- for a target of Rs 80+. On break out keep stoplos at Rs 50/-.

Moreover, investors may decide to book profits at Rs 90-95 levels, and that level is a major resistance area for the stock.

I would suggest keepig a watch on the volumes when the break out occurs. If they are higher than usual , the better the break out.

Happy trading

CA Rajiv D Khatlawala