Buy HOEC on all declines: Mitesh Thacker
Published on Wednesday, November 11th, 2009 at 6:59 PMAuthor: stockalert (2027 Articles)
Buy Hindustan Oil Exploration Company (HOEC) on all declines, says Mitesh Thacker, Technical Analyst, miteshthacker.com.
“HOEC was circuit up yesterday. This has been a case of stock being in long-term uptrend with good breakout on monthly charts and for the past few weeks, we saw some kind of corrective or a declining action. My belief is that the long-term chart still looks very attractive on the monthly and the quarterly charts. So on these kinds of declines this stock is a good buy and hold for somebody who has a perspective of around six months and more. So, I would advice buying this stock on all declines and my belief is that the stock will probably not only cross its highs of Rs 395-400 but also go even higher.”
He further added, “Ashok Leyland is one stock which has been showing tremendous strength. I think Rs 55-57 is the short-term target. But looking at the price movement and the way the price charts are shaping up this could go even higher.”
Source : MoneyControl
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