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Emargin Positional Pick - Buy Prism Cement Ltd For Target Rs. 160- HDFC Securities

* Prism Johnson is in an intermediate uptrend as it has been making higher tops and higher bottoms for the last several months.

* After consolidating in a range between the 118-127 levels for the last several weeks, the stock has broken out of this range on Monday on the back of above average volumes.

* Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Weekly momentum indicators like the 14-week RSI have bounced back and are in rising mode now. This augurs well for the uptrend to continue.

* With the intermediate technical setup too looking positive, we believe the stock has the potential to move higher in the coming weeks and therefore recommend a buy. Our entry levels with stop loss and targets have been mentioned above.

Buy Prism Cement Ltd Up to 1-3 Months @ Buying Range 128-130.85 CMP 130.85 TGT 160 SL 121

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