Weekly Idea - Bartronics

The idea for this week is Bartronics India. This share has had been in an extreme downtrend from July 2009 onwards. But now the stock is presenting a Swing trade oppurtunity. It has reached an extreme oversold zone in both weekly and daily charts. Also the stock is now nearing the lows of the recession from where it had formed the double bottom in January to March 2009. Refer chart below.

CMP is 73. This week it should present an oppurtnity near 70. Accumulate till 65 with stop at 58. The target should be around 92-95 levels which is 38% Fibonnaci retracement for last 25 pivots. The extended target maybe 102-105 levels.

Thanks and regards,
Vishal Surana