I hope readers were benefited}
While scanning PSU stocks on my selected technical parameters, I noticed MTNL which is showing signs of revival. After recently testing 92 levels, the scrip has made positive divergence on the MACD ( though it is yet to be 'confirmed' by the Swing confirmation method).
The price level of Rs 90/- seems to be a good support for MTNL and I expect that a break above Rs 98.50 should trigger further buying in the stock and over a medium term time frame of about 8-12 weeks, it should attempt to test Rs 130-140 levels.
Though this is not a 'traders' stock; medium term investors may give due attention !
Happy stock picking!
CA Rajiv D Khatlawala
3 comments:
Great analysis along with nice catch phrases!
Thanks a lot Nitish !
CA Rajiv
Your analysis are definately benefieting all the readers.
Now for MTNL chart r showing 90 as good support, but mkt overall is looking week for 4-5 weeks. So chances r that it may break the support before hitting the tgt.
Is it a good time to invest in MTNL?
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