At the current market price of Rs195, the stock is quoting at 22.8x its CY2007E earnings per share (EPS) of Rs8.5 and 20x its CY2008E EPS of Rs9.6. We maintain our Buy recommendation on the stock with a price target of Rs280.
Hll trade long if it closes above 193
or wait for new eod high
So far lower low/lower high continuing in what i believe is only a fake c wave to the downside.
Long term picture looks ok to me.
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