HOCL - coming out of hibernation!

While the NIFTY continues its corrective mood, it may be time to track the mid caps which are bottoming out (there not many left now)

One such stock which came to my radar is HOCL

The scrip has recently (21-Oct-09) broken the long term resistance of Rs 45 with high volumes. It has fallen back to Rs 42 levels.



However the price charts, some basic indicators (like MACD)and some advanced indicators are suggesting that the stock should rally once it now clears past Rs 47/-. So medium term traders may buy on break above Rs 47 with stoploss kept near Rs 34/- for a target of initially Rs 65 and then Rs 77 Plus. . .

Happy trading !

CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.