TYRE

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					Tyre Industry

    MRF
    J.K Industries:
    Balkrishna industries
    Good year
    Ceat India
Wait & Watch – Bullish Trend Yet to Confirm




MRF: Technically the stock keeps us in a wait & Watch status since
  reversal is not confirmed. The stock witness a strong support at 3500-
  3600. We could expect a positive turnaround up to 4000 levels initially.
  If it manages to consolidate and maintain a close above 4000 levels on
  weekly basis, We could see a further target of 5600–7800.
On Consolidation




J.K. Industries: We could see some consolidation happening in the range of
              130-140 levels. A Positive move is expected only if the
              scrip closes above 145 on weekly Basis with target 200-275).
Bullish Trend


Balkrishna Industries: The scrip slips from the Higher levels of 1055 and
           manages to take a support at 440 levels on weekly basis.
           We recommend a Buy only on dips.


Good Year: The scrip has turned bullish at current levels. We expect a
           positive target of 285-450 on long term basis.


Ceat:      Buy at current levels with a Medium Term Target of 208
           Level of 332 is possible on Long Term Basis.
Disclaimer:
   This report has been prepared solely for information purposes and
    the information contained herein may not be deemed to be an
    investment advice. Such information is impersonal and not tailored
    to the investment needs of any specific person. The information
    contained herein is not a complete analysis of every material fact
    representing any company, industry or security. The views
    expressed may change. While the information contained herein has
    been obtained from sources believed to be reliable, no
    responsibility (or liability) is accepted for the accuracy of its
    contents. Investors are advised to satisfy themselves before
    making any investments and should consult with and rely upon
    their own advisors whether and how to use such information in
    making any investment decision. Neither the author nor his firm
    accepts any liability arising out of use of the above information/
    article. This report is exclusively for the clients of Venkataraman &
    Co. only.

VENKATARAMAN & CO.,
Stock & Share Brokers, New No.2 (Old No.52)
Dr. Ranga Road, Mylapore, Chennai 600 004.
Web: www.venkataraman .com E-mail: vnkco@vsnl.com

				
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posted:4/28/2011
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