Another Triangle formation Observed (Moser Baer)

Moser Baer still remains within a triangle consolidation pattern that has lasted at least since 2009 started, and now we’re seeing an even tighter triangle within the larger triangle. When will it ever end!? Soon, perhaps Let’s take a look at the current Moser Baer Daily Chart.

The boundaries have now contracted so we need to be watching the 95 and Rs. 85 prices for signs of a potential breakout one way or the other.
MACD suggests postive breakout for which intial target can be around 115 and then 140 is also possible.
Remeber , it is one of those stocks which is still trading at discount to Book Value of Rs. 100.

Use the Dip in the Market to Add this stock to your portfolio for a handsome return of 30%.

Enjoy Investing..

Thanks,
Bhupesh