Mahindra Ugine - Breaking out of base

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Dear Investor,

Check Our Current Recommendations

We just got the BUY signal similar to the one we got in July 2009.



Check the blue channel line that is in uptrend. We are moving down and back to the center blue line. The rate of growth is very slow. Total range of movement is around 1000 points. Markets is moving away from center line and returns back to the center line. Overall trend is UP but the rate of growth is FLAT.

Mahindra Ugine - Very nice base built over a period of 6 to 7 month. This stock just breaking out of its base making it compelling buy. Stock is above 150 day moving average line which is great. If overall market does hold then this one is likely to lead forward. Buy when some weakness is displayed by the market to have best possible entry. Just don't buy right away. Give some time, watch it and then move forward.

Overall Dollar strength eroded in last few days so markets are again marching ahead..somehow they are lacking the conviction to keep moving higher. The market is basically trading FLAT near its mean line.

Thanks
Anil
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