Wednesday, 2 May 2012 PADINI – Stock Pick

PADINI ( 7052 : 1.67 ) : Take profit

Description

Resistance : 1.70

Support : 1.52 1.56

RSI of 77
RSI is overbought

STOCHASTIC
It is overbought

Comment
On our buy recommendation of 4/4/2012, it has gone above the target of 1.57. We recommend taking profit
at the current level, as it has hit a near term top of 1.70, due to strong selling. A pullback to 1.56 is likely


Trading Strategy
Take profit. Downside is at 1.56



Disclaimer
This report is provided for information purposes only. It is not a complete analysis of every material fact respecting any company, industry, security or investment. Opinions expressed are subject to change without
notice.