Sunday, November 14, 2010

KIRI DYES LTD: GOOD BUT BELOW 200 DMA


Sir,
I have 50 share in kiri dyes chemicals price at Rs.627/-. I am a short term investor (2 months) in this situation hold or sell for this stock.
Please reply as soon as possible. Thanks,
Vishal Kumar
1. Kiri dyes is a 10 rupee face value chemical company.
2. EPS of kiri dyes is 16.31 in FY 09-10 which discount it at P/E of 35 and I think maximum fair price for kiri dyes is 300-400 only
3. Year high of kiri dyes is 877 and year low 427.50
4. I not advice you to book loss because promoter holding in kiri dyes is 73.44 % and promoter increase their holding from 69.98 % this is a good sign and I think after consolidation stock show fresh rally.
5. FII also increase their holding from 6.48 % to 7.39 %
6. Company is good and may give your buying price back, but 2 months is a very short periods and share traded below it 200 DMA of 582 and if any share traded below his 200 DMA then it is say that stock is technically weak in short term.
7. I have no any share of kiri dyes ltd.

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