This is a chart of Pioneer Embroideries from the small cap segment, As you can see the stock has been range bound between 15-25 since last 1 year from July 2009. Last friday, stock tried to breakout above 25-26 resistance zone with huge vols but could not sustain/close above it. Buy PioneerEmb only if it sustains above 26 with a stoploss of 26.5 and look for targets of 33/35 in short to medium term.
Have a nice trading day
Regards
Ankit
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