SHORT-TERM TRADING TIPS - BUY 3i INFOTECH AT RS.50.1

HINDUBUSINESSLINE REPORTS : We recommend a buy in the stock of 3i Infotech. It is seen from the charts that they stock found support at its long-term base in the band between Rs 38 and Rs 40 in February 2011. After re-testing this significant support in mid-March, it bottomed. A medimum-term uptrend then started, triggered by positive divergence in the weekly relative strength index. On April 25, the stock decisively broke through its medium-term downtrend-line that was in place since November 2010. Further, reinforcing the uptrend, the stock penetrated its immediate resistance positioned at Rs 48 by jumping 6 per cent on Thursday. We notice that there has been an increase in volumes over the past six trading sessions. Daily moving average convergence divergence indicator has signalled a buy and is hovering in the positive territory implying upward momentum. We are bullish on 3i Infotech from a short-term horizon. We anticipate its up-move to continue until it reaches our price target of Rs 52 or Rs 53.5. Traders with short-term perspective can buy the stock with stop-loss at Rs 48.5.

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SHORT-TERM TRADING TIPS - BUY VIDEOCON INDUSTRIES

YOGANAND OF BUSINESSLINE recommend a buy in the stock of Videocon Industries from a short-term perspective. It is evident from the charts of the stock that following an intermediate-term downtrend from its October 2010 peak, the stock found support at its March 2011 low of Rs 175. The stock reversed direction triggered by positive divergence in daily moving average convergence divergence and price rate of change indicators. It has been on a short-term uptrend since then.

On April 29, the stock jumped four per cent penetrating its 21- and 50-day moving averages, showing signs of bullishness. Reinforcing the bullish momentum, the stock advanced almost two per cent on Monday. Daily MACD has signalled a buy and is featuring in the positive territory indicating upward momentum. We are bullish on the stock from a short-term horizon. We expect the stock to move higher until it touches our price target of Rs 207.5 or Rs 213.5 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 195 levels. (Source: http://www.thehindubusinessline.com ).

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