AHCL Arif Habib Corporation Limited Analysis 17 April 2013

AHCLRebound Insight Our Pivot: 20.59 Our Preference: Buy AHCL above 21.50 with a strict stop loss of 20.59 and profit target at 24.29 and 25.25  Alternative Scenario: Downward Penetration of 20.59 will call for 19.73 and 18.75 NOTE: AHCL is stuck between a wedge and have fullfiled its correction in previous days to fall more but is going to get a mid term support at 21.90 but strong support is at 21.50. So long and mid term players can initaite buyings from 21.90 with stop loss. Middle impact indicators like MACD, Stochastic and RSI are in over sold region and are indicating a reversal ahead in AHCL. Recommendations: For New Entries ( Buy around 21.50) For Existing Buyers ( Hold till 24.29 and 25.25) Daily Chart with Supports and Resistance: AHCLW

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Peter Doe

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