MLCF Maple Leaf Cement Analysis 16 May 2013

Our Preference: Buy MLCF as long as 18.81 is sustained as support with strict stop loss at 18.19 and profit target at 19.67 and 20.56 with extension towards 22.19 Alternative Scenario: Downward Penetration 18.19 will call for 16.98 NOTE: MLCF is continuesly holding its upwards channel and is getting strong support from daily and weekly supportive trend lines. Therefor every day supports are coming higher and targets also. Now on weekly basis it have tempered its short term resistance at 19.19 so now its time to buy it and get profit target at 20.56 Recommendations: For New Entries (Buy above 18.81) For Existing Buyers (hold till 20.56) Weekly Chart with Supports and Resistance: