This is a daily chart of Asahi India and you can see that there are multiple tops ( 3 tops ) since Sept 2009 in the zone of 78-80. Plus the stock has managed to make higher lows since April 2010 so there is a trendline support zone of 70-72 also. The stock gave a nice breakout yesterday and that too with huge vols which is a good sign. Buy Asahi India 81-82 with stoploss of 77 on closing basis and look for targets 89/95 in short term.
Have a nice trading day
Regards
Ankit
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