Stock Idea : Tantia Constructions (BUY)

>> Sunday, July 26, 2009

Tantia Constructions (Rs 87.90): Buy
Investors with medium-term perspective can consider buying Tantia Constructions. The stock found significant support around Rs 30 in March 2009 and commenced an uptrend. Though it encountered a major resistance at Rs 70 in early June, it was able to conclusively break out of this resistance in mid July.

The momentum indicators in the weekly chart are bullish.

We believe that Tantia Constructions has the potential to trend upward to Rs 128 in the medium-term. Investors can accumulate the stock in dips with stop-loss at Rs 70. Short-term traders can enter with a target of Rs 97 and tight stop at Rs 83.5.