Though the stock has not participated in the bull run till now and has been in a trading range of 215-272. The stock has recently given a falling trendline breakout and has also managed to give a close above 200 MA. With improving utilisations at dahej and kochi facility it can give a decent move on the upside. Keep an eye for this stock.
With ABS prices up this month 14%, and the stock moving nicely in this upward sloping parallel channel, it should be an interesting watch for the next few weeks and entry can be taken at cmp with prices at the channel bottom and look for targets of around 218-225.
