HEMRAJ : Should hit 2.80, possibly 3 during Q2.
April 3, 2011 Leave a comment
HEMRAJ has an important band of price support from 2.02 to 2.08, and it looks as if it will be tested. If the market makers decide to have some fun on others behalf, then it may come off to nearer 1.92. If however it is held at 2.1o for a few hours, then a move to 2.24-2.26 could easily occur. A breakout here has little resistance until 2.46 or so, then there is some resistance at about 2.55, 2.80 hen at and near 3. Could it hit 3? Yes, entirely possible given the next month or two sees some major market making antics, as always happens in the run up to elections.
Buy on a dip to nearer 2, or 1.92 or so if lucky, or wait for a volume supported breakout at 2.24-2,26 and follow buy.