Buy Ansal Housing(BSE: 507828)

Short-term sentiment: Bullish

From technical chart pattern, Ansal Housing looks bearish in long term time period. This bearish sentiment is justified if we consider global financial crisis and housing sector issues. But in short term time period, Ansal Housing looks bullish and creating a new uptrend.

• A major support/resistance is seen at Rs.90, price has found support 2 times during past 6 weeks
• EMA (20) is acting like a support line and price closed above both EMA (20) and EMA (50)
• RSI (14) is 51 which indicates recent trend is strong

If this stock won’t go further down, then it could be a good time to BUY Ansal Housing at Rs.107 with stop/loss just below Rs. 90 for target 1 near Rs.140 and target2 near Rs.160