Update on SINTEX

SINTEX we had a buy call since Rs 217 for target Rs 400. It was an investment call given on 5 Aug 2009 and now after 13 months we see 79% returns. This is an update for the same.

SINTEX trades at Rs 390 and our target is almost achieved. The stock has seen fresh long position with +8% Open interest built up and price higher by 2.5% and volumes higher by +252% and stock from start of the settlement has seen +8% price change and +31% higher O.I. Stock has made 52week high Support 20DMA Rs 366 higher side Rs 405-420 can be targets for short-term traders. Slowly one can take profits in this stock as our long term targets are met.

Previous Post on SINTEX: http://tanmaygopal.blogspot.com/2009/08/sintex-cmp-rs-217-buy-around-rs.html