TINPLATE COMPANY OF INDIA
Tuesday, October 13, 2009 5:59 pmTECHNICAL REPORT ON TINPLATE COMPANY OF INDIA
CURRENT PRICE – 56.35
| BSEId : 504966Â Â Â Â NSE Id : TINPLATE
ISIN Id : INE422C01014 INDUSTRY- Metals-Non Ferrous Market Cap- 405.63 Book Value- 37.40 Face Value – 10.00 Price/Book – 7.40 EPS (TTM) – 7.40 P/E -7.61 |
PRICE INFORMATION
| All Time High   225.00
All Time Low      4.00 52 Week High   68.81 52 Week Low     18.20 |
| RECOMMENDATION – Â BUY ABOVE 60
POTENTIAL RETURNS – 20Â to 45 %
FIRST TARGET – 73 TIME FRAME – 2 WEEKS
SECOND TARGET- 89 TIME FRAME- 3 TO 4Â WEEKS
|
WEEKLY CHART
DAILY CHART
RECOMMENDATION-
The Stock gave a sharp up move of more then 100 %( 32 to 68) from July 2009 to September 2009 and was under a secondary correction from first week of September. However a fresh buying was witnessed in the previous two trading sessions and as a result of which the stock closed above 56 after touching an intraday high of 58.8 from 50 levels in just two trading sessions. As can be seen on the Daily Chart the stock has managed to close above its medium term support/trend line. Interestingly the stock has also formed a Double Bottom pattern in the Daily Chart and has given a breakout of the same on Friday with huge volumes. The Stock has managed to close above its 4, 9 and 18 Days SMA as well as 65 days EMA also. The MACD histogram is also indicating a buying along with the phenomenal volumes.
We Recommend a BUY on the stock with a Closing Stop Loss below 50 for the targets of 73 and 89.