Two Trades For The Medium Term

Carborandum Universal has been on a long-term uptrend since Q1 2003 when the price was around Rs10-11. The stock had rallied tremendously until 27 January 2006 when it hit a high of Rs167.85. From that level, it declined to Rs116.65 on 21 July 2006. This was an important support area which had acted as a resistance level on 14 October 2005. The fall was also approximately a one-third...

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