India Infoline puts BUY on Aptech

India Infoline puts BUY on Aptech
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First Published: Mon, Jan 05 2009. 09 59 AM IST
Updated: Mon, Jan 05 2009. 09 59 AM IST
The stock is trading around the Rs100 level, which coincides with its previous two tops. It bounced back sharply in the last one month after forming a double bottom.
The stock hit the first low of Rs61, the lowest point of the current trend during last week of October. Thereafter, rally took the stock price towards the Rs101, which coincided with the previous top.
The advance from the bottom was accompanied with heavy volumes, validating our argument of breakout from the given pattern. We recommend a BUY with a stop loss of Rs91.
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First Published: Mon, Jan 05 2009. 09 59 AM IST
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