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Thursday, June 5, 2008

The First Two - PANACEA and IFCI

As promised in previous post, I am looking at 2 stocks here...Not yet advocating a buy...except MAYBE in small amounts...I am in wait and watch mode for now...As I said for next couple of weeks.


First one Panacea Biotech...I have covered this stock once before over here...I think this looks good because even with the general weakness in the market over past few days, this looks relatively strong..Volume also picking up showing strong hands might be picking the stock. Fundamentally also I believe this is a good stock but I am hoping others can comment on this.

The other thing here is the falling channel-long term, that looks like it can be broken to the upside soon...This is a good stock to buy and hold for long term in the next correction...


Next one...IFCI...Now this stock is no stranger to anyone...Why it looks interesting to me even though its a highly speculative stock is because of how it has held up the 60 price range even over past few days. And volumes are huge...Is someone big accumulating in anticipation of some inside news? Looks possible to me...Also an Inverse HnS looks to be setting up even though its not very clear here...


So thats my first 2 picks...I will look at some more over next few days...As I said before, now might be a good time to pick some good scrips for longer term...Big money is made by buying and holding over longer periods of time...Not trading intraday. You can see how panacea went from 40 rs or so up to 360 odd now...Thats the power of long term. Judge for yourself from the charts.
Now one thing I need some help from readers of this post is do you know anything about the fundamentals or news about these 2 companies? If you do, please add this into the comments section of this post...I would appreciate it...
Best.



2 comments:

VISHNU said...

Dear Prince,

Please check the link :

http://www.panacea-biotec.com

for more elaborative info about Panacea Biotech. There seems to be lot of development in the company as regards patents etc., meaning newer drugs may be launched in near future. Thank you.

Regards

VISHNU

Murtaza said...

Hi,

Panacea is definitely in an uptrend and would continue to be unless it does not dip under 353 on a closing basis. Right now i think Panacea should continue to be in a range, i.e. 370-412. Any plausible upmove should be in place only on a strong close above 412.

IFCI as well has been in a trading range, i.e. 55-66. If you notice it has quite times turned back after reaching 66, except on 2 occassions when it closed above 66, i.e. on 5th and 6th of Feb.