Nelco Limited (Nelco) is a very small aperture terminal (VSAT) provider and offers network communications solutions. The Company operates through two segments: Network Systems consisting of VSAT services (including SATCOM) and Managed Services, and Automation & Control consisting of Integrated Security and Surveillance Solutions (ISSS) and Unattended Ground Sensor (UGS) business. Its solutions include Tatanet VSAT, ISS, Managed Services, Meteorological Solutions and Satcom Projects.

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SHORT TERM PERSPECTIVE

Company Nelco Limited 
Recommendation Accumulate (Rs.207.25)
CMP Rs.207.30
Stop Loss (SL) Rs.197
Target Price Rs.225-Rs.245
Time Horizon 2-4 Weeks

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Intermediate and short term trend is up in this stock. After an up move, the stock has been consolidating for a few days. The price now has given a breakout upwards and is taking support from its 200 day EMA. The stock has made a cup and handle pattern on the daily chart which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that stock can move higher from current levels so one can accumulate the stock at CMP With a stop loss of Rs. 197 on closing basis and for the target of Rs 225-Rs.245. Time frame should be 2-4 weeks.

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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