Markets have corrected a bit pre-budget. This a good sign, as it will be after few surprises we get good entry opportunities in some of the super strong stocks in the present bull market. Of course the present market is presumed to be totally bullish. All the stocks that have real value in them have run up high like MRF, Shree Cements, etc., Some stocks like Shasun Pharma have a fair chance of entry in the Ready to take off segment. Price of this stock is 4.55% close to its resistance. Lower volumes when the stock is reaching for its value zone on the daily indicates that weaker hands are moving out of the counter.
Break of resistance with good volume support will take this stock to further new highs. On the weekly chart though this stock will be entering into a new bullish trend this week. This will provide opportunity to track it for a pull back buy.
EPS rank of 99.14 and Price RS rank of 96 puts this stock at the top league of highly successful companies. Mutual fund representation in the stock was clearly established before its present move. Most of the funds have bought in November 2011, who are sitting on a good pile of profits. Sundaram Smile fund is the top holder of this stock.
There is a good opportunity in this stock for both short term gains as will as long term earnings probability. Add the stock to your watch list.
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