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Allcargolong

ALLCARGO - A long term viewThe stock has closed at a price of 391.65 which is just a fraction short of moving above all important EMA and make it technically bullish. Fundamentals of the company have significantly improved which is a good sign. Since the EMA crossover in the month of August we have seen the price hit a fresh high of 452 levels. During this rise we have witnessed a pullback at the levels of 328. Current levels are showing signs of another pull back and if we have prices moving or closing above 394 we could see the levels of 452 being hit once again. There could be some resistance at around 413 levels. The projected growth for logistics sector is around 15% which is currently at 10.5%(approx.) So keeping a stop loss at around 375 one can go long in this counter above 394 for a target of 452 on a short term basis. From a long term point of view 600 levels look a decent shot.
NSE:ALLCARGOLong
by ruelfernandes
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