CREST ANIMATION STUDIOS
Sunday, October 4, 2009 5:39 pmTECHNICAL REPORT ON CREST ANIMATION STUDIOS
CURRENT PRICE – 45
| BSEId :526785Â Â Â Â NSE Id :CRESTANI
ISIN Id :INE774A01012 |
INDUSTRY- Media & Entertainment |
| Market Cap- 94.86 | Book Value- 51.36 |
| Face Value – 10.00 | Price/Book – 0.82 |
PRICE INFORMATION
| All Time High   1357.20 | All Time Low      9.00 |
| 52 Week High   49.30 | 52 Week Low     13.90 |
| RECOMMENDATION- BUY ABOVE 42.5
POTENTIAL RETURNS- ABOVE 20 % |
TARGET – 52
TIME FRAME -2 TO 3 WEEKS
|
DAILY CHART
RECOMMENDATION- The stock is in secondary up move from April this year. It is forming a typical theoretical Dow bullish pattern by making consecutive higher tops and higher lows. This uptrend is being established again and again by Rounding Saucers/ Bowl pattern, (which apt to be seen more in the low priced stocks normally below Rs. 50).This time also the stock has formed a rounding bottom, the volumes on the previous sessions (i.e. at the recent bottom) were also dried up and now as the price move is converting in to a meaningful pattern, the volumes are also picking up significantly. The strength of the move is also supported by its RSI crossing from below 50 levels. We expect the stock to outperform significantly in the medium to long term also. We recommend a Buy on the stock above 45 for a price target of 52 in 2-3 weeks.