Look at the price chart of PARAL, we can see that stock has fallen from 390 rs. level till 39, done consolidation of 8 months on chart from month of may 2013 till date, and recently we able to see some price action in this stock.
if you look for long term investment then one can start to collect this one in a range of 50-60 rs. and if you looking to buy after breakout then buy this after rs. 68 close.
once stock able to give close above 68 then buy this with sl of 45 target 100-135-200 {6 months to 18 months holding}
technical patterns.
with the recent chart development we can see that stock has made “SYMMETRIC TRIANGLE” on chart when it has done consolidation in last few months.
as per the rsi we can see that recently rsi taken a bottom support and now able to move in over bought zone, so it can do breakout till the price moving positive, if price stay at one place then rsi can take its time to give further development on chart.
so once price able to close above resistance level of 68 for at least 2 trading session then we can enter safely in this stock.
one who looking to invest now also can keep collecting small qty in a range of 50-65 with sl of 45 on closing basis.
overall final outcome we can define is, after a big fall stock has complied its consolidation now, which was indicated by price action by breaking the 7 months high now. so more up move in price can set for the more upper targets in coming days.