Alpha Laval - First Target Achieved

Alfa Laval has achieved its first target. The stock traded past Rs. 910 and broke on decent volumes.

• MACD on the charts is still giving a positive signal with the bullish lines slightly expanding. RSI is close to giving a 'sell' signal
• The accumulation distribution line is seeing some strength, though it is not actually convincing
• The stock when it fell from these levels last time had consolidated for sometime before falling further. So, one could expect the same if we see further upside on this stock.
  

Personally, this is not a favorite stock of mine and had bought it mainly because it was attractive on charts. However, I have come out of the stock today as I did not want to get into a stock that was this illiquid. The stock can be bought at Rs. 930 for a good buy with two targets of Rs. 952 and Rs. 1000 in mind. Downside on the stock is quite difficult but Rs. 780 levels is something that one can expect incase the fall is quite sharp.