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Friday, October 14, 2011

TRADING RECOMMENDATIONS 14th Oct

PTC India Ltd. CMP—Rs 70.65

Technical Outlook & Trading Strategy:-

The share price of PTC has seen a sharp fall from the highs of Rs 77.45 on 12st Aug 2011 to the lows of Rs 66 Levels. The stock has since then pulled back and tended to trade within the Rs 66---Rs 70.5 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.

We recommend traders to buy in the range of Rs 70.4 — Rs 70.8 levels with a stop loss placed below Rs 68.4levels for targets of Rs 75 levels.