TECHNICAL REPORT ON PVP VENTURES
Tuesday, October 6, 2009 11:11 amTECHNICAL REPORT ON PVP VENTURES
CURRENT PRICE – 41.20
| BSEId :517556Â Â Â Â NSE Id : PVP
ISIN Id : INE362A01016 |
INDUSTRY- Construction & Contracting – Real Estate |
| Market Cap- 954.37 | Book Value- 33.71 |
| Face Value – 10.00 | Price/Book – 1.22 |
PRICE INFORMATION
| All Time High   7200.00 | All Time Low      5.80 |
| 52 Week High   60.75 | 52 Week Low     5.80 |
| RECOMMENDATION- BUY/ACCUMULATE AROUND 37-40 .
POTENTIAL RETURNS- ABOVE 60 % |
TARGET – 65
TIME FRAME – 4 TO 5 WEEKS
|
WEEKLY CHART
DAILY CHART
RECOMMENDATION-
The stock is in an intermediate uptrend from March 2009. It made an all time low of Rs. 5.8 in the month of Feb 2009 and rallied from there to 58 levels in mid September 2009. From the highs of September it has already retraced around 31% of its gains and is now trading around 40. The daily chart reveals a heavy upsurge in the volumes from previous few sessions. 65 Days EMA support also happens to be around 40 levels. Coming on to the weekly chart, 35-42 is a major accumulation/distribution area for the stock. In the month of August it gave an upside breakout from these levels and now the stock is in a correction mode, hence is retracing to the levels to start another upside move. We recommend a BUY AROUND 37-40 WITH A CLOSING STOP LOSS OF 35 FOR A TARGET OF RS 65 IN 4-5 WEEKS.